China is no longer the top holder of US debt after its total dips below $1 trill...
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China is no longer the top holder of US debt after its total dips below $1 trillion for the first time in 12 years
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China is no longer the top holder of US debt after its total dips below $1 trillion for the first time in 12 years
China's US debt holdings dipped below $1 trillion for the first time since 2010, Treasury data shows.
The decline means China is no longer the biggest foreign holder of US debt.
Japan, which trimmed its holdings to $1.212 trillion from $1.218 trillion, is now the top holder.
China is no longer the biggest foreign holder of US debt, as its portfolio has dipped below $1 trillion for the first time since 2010.
In May, China held $980.8 billion in US debt, down $23 billion from the prior month and almost $100 billion from a year ago, according to Treasury Department data released on Monday. China has reduced its Treasury holdings for six straight months.
Japan, which trimmed its US debt stockpile to $1.212 trillion in May from $1.218 trillion in April, is now the top overseas holder.
Total foreign holdings of US debt fell to $7.42 trillion in May from $7.45 trillion in April.
Beijing has been moving to diversify its debt holdings, while the Federal Reserve's rate-hiking cycle that began earlier this year has been lowering prices of US bonds.
In June, the central bank hiked interest rates by 75 basis points. And Wall Street is broadly expecting the same-size hike for the upcoming July meeting.
Read the original article on Business Insider
ReutersJapan, China cut holdings of U.S. Treasuries to multi-year lows -data
Japan and China pared back holdings of U.S. Treasuries in May to multi-year lows, data from the U.S. Treasury department showed on Monday. Japan's holdings fell to $1.212 trillion, the lowest since January 2020, when the country's stash of Treasuries was $1.211 trillion. In April, Japan's holdings were at $1.218 trillion.
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