China Cuts US Treasury Holdings to $590.7 Billion, an 18-Year Low in August
Updated
Updated · South China Morning Post · Oct 17
China Cuts US Treasury Holdings to $590.7 Billion, an 18-Year Low in August
3 articles · Updated · South China Morning Post · Oct 17
Summary
$590.7 billion in August marked China’s smallest US Treasury position since August 2008, after it cut holdings by $27.3 billion from July.
The reduction came as Beijing kept diversifying its foreign-exchange reserves amid geopolitical tensions and growing concern over Washington’s fiscal outlook.
Japan also sold Treasuries, trimming its holdings by $35.6 billion to $1.07 trillion, even as it remained the largest foreign holder of US debt.
Foreign ownership still rose to $9.33 trillion from $9.25 trillion because Britain and Canada increased purchases, partly offsetting the Asian sell-off.