China lifts American Treasury holdings
Source: Agencies |
May 18, 2010, Tuesday
|
Print Edition
Print Edition
CHINA has boosted its holdings of United States Treasury debt to their highest level in six months.
This should ease concerns that lagging foreign demand will force the US government to pay higher interest rates to finance its debt.
The Treasury Department said yesterday China's holdings of US Treasury securities rose in March by 2 percent to US$895.2 billion, the first increase since last September.
China is the largest foreign holder of US Treasury securities. The US$17.7-billion increase in March left its holdings at the highest level since November.
Total foreign holdings of Treasury securities rose 3.5 percent to US$3.88 trillion.
The US government reported that net holdings of long-term securities, which includes the debt of American companies as well as federal debt, rose US$140.5 billion in March, the largest one-month gain on record.
The big increase was influenced by two factors:
A flight to safety by investors worried about the debt crisis in Europe; and
A continuing rebound in the American economy which has sparked greater interest by foreigners in purchasing US corporate debt.
This should ease concerns that lagging foreign demand will force the US government to pay higher interest rates to finance its debt.
The Treasury Department said yesterday China's holdings of US Treasury securities rose in March by 2 percent to US$895.2 billion, the first increase since last September.
China is the largest foreign holder of US Treasury securities. The US$17.7-billion increase in March left its holdings at the highest level since November.
Total foreign holdings of Treasury securities rose 3.5 percent to US$3.88 trillion.
The US government reported that net holdings of long-term securities, which includes the debt of American companies as well as federal debt, rose US$140.5 billion in March, the largest one-month gain on record.
The big increase was influenced by two factors:
A flight to safety by investors worried about the debt crisis in Europe; and
A continuing rebound in the American economy which has sparked greater interest by foreigners in purchasing US corporate debt.
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