China urges banks to curb US Treasuries exposure, Bloomberg News reports

Feb 9 (Reuters) - Chinese regulators have advised financial institutions to curb holdings of U.S. Treasuries due to concern over concentration risk and market volatility, Bloomberg News reported on Monday, citing people familiar with the matter. The advisory was framed as an effort to diversify market risk rather than a response to geopolitical maneuvering or a loss of confidence in U.S. creditworthiness, Bloomberg reported. The guidance came before President Xi Jinping held a telephone call with U.S. President Donald Trump last week, Bloomberg said. Trump's unpredictable approach to trade and diplomacy, his attacks on the Federal Reserve and huge increases in public spending has left market participants questioning the haven status of U.S. debt.