(Bloomberg) -- Hedge funds have been a major player in this year’s Treasury selloff, offloading more than $100 billion of the securities since the start of January, according to holdings data. The world’s biggest net sales of U.S. government debt so far in 2021 has been in the financial center of the Cayman Islands, well known as a domicile for leveraged accounts. Investors there dumped $62 billion of US. sovereign bonds in February, after selling $49 billion the previous month, Treasury Department data show. The January and February selling flow also appears to offer some clues about recent price action.