Could Apple’s $60 billion in U.S. Treasury notes—more than any other company—have something to do with the Treasury Secretary’s visit to Cupertino Friday?
Cash is tight. Interest rates are surging. Bank reserves are dangerously low and Apple is set to withdraw $250 billion for repatriation.
Something tells me that Steve Mnuchin’s Cupertino stopover on his way to the G20 Summit in Argentina was more than just a courtesy call.
The rest, for now, is speculation.
Below: Major foreign holders of Treasury securities, plus Apple. Not seeing the bar chart? Click here.
My take: I have theories, but I don’t have the facts.