Foreigners lift US debt to record high
Print Edition
FOREIGN buyers of US Treasury securities raised their holdings in April to another record high even though China cut back on its holdings for a third straight month.
The Treasury Department reported yesterday that total foreign holdings rose 0.2 percent to a record US$5.96 trillion, up from US$5.95 trillion in March. It marked the ninth straight monthly increase.
China, the largest foreign buyer of US Treasury debt, reduced its holdings for a third month, cutting them by 0.7 percent to US$1.26 trillion. Japan, the second-largest buyer, boosted its holdings 0.8 percent to US$1.21 trillion.
Foreign demand for US Treasury debt is set to remain strong this year, helped by more borrowing certainty given the congressional agreement to suspend the debt limit until March 2015.
The deal on the debt limit means that another standoff over raising the debt ceiling will put off until next year.
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