China is now the No. 3 US creditor
Signage is seen at the United States Department of the Treasury headquarters in Washington, D.C., U.S., August 29, 2020. REUTERS/Andrew Kelly/File Photo
WASHINGTON: China shrank its holdings of US Treasuries in March, with the United Kingdom replacing it as the No. 2 overseas owner. The month, which preceded the April turmoil in the Treasuries market, saw a second straight jump in foreign purchases, to a fresh record high.
Total overseas holdings rose US$233.1bil, to US$9.05 trillion, Treasury Department figures showed last Friday.
China was the top holder of Treasuries as recently as 2019, when Japan overtook it.
The latest data show the UK surpassed China for the first time in more than two decades, according to data compiled by Bloomberg. — Bloomberg
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