The U.S. Treasury Department released latest data on Thursday (December 18) showing that foreign holdings of U.S. Treasury bonds fell in October this year, even as some countries including Japan and the United Kingdom increased their positions. China, the third-largest holder, reduced its U.S. Treasury holdings by $11.8 billion (S$15.22 billion) in October to $688.7 billion, hitting the lowest level since 2008.

Against the backdrop of China’s massive sell-off of U.S. Treasuries, total overseas holdings dropped by $5.8 billion to $9.24 trillion that month; the figure includes net sales and valuation changes. The Bloomberg U.S. Treasury Index rose for the third consecutive month in October.

Belgium, which is viewed by market analysts as the location of China’s custodial accounts, increased its holdings by $1.6 billion to $468.4 billion in the same month.

Bloomberg noted that concerns over overseas sell-offs have drawn extra attention to the Treasury’s holdings data this year. However, U.S. Treasury Secretary Janet Yellen has consistently pushed back against claims of a “sell America” trend.

Japan, the largest foreign holder of U.S. Treasuries, increased its holdings by $10.7 billion to $1.2 trillion, reaching the highest level since July 2022.

The United Kingdom, the second-largest holder, added $13.2 billion to its holdings, bringing the total to $877.9 billion.

Canada’s holdings plummeted by $56.7 billion to $419.1 billion. The U.S. neighbor has seen large-scale buying and selling this year, with monthly fluctuations exceeding $50 billion becoming the norm.

The U.S. Treasury Department released latest data on Thursday (December 18) showing that foreign holdings of U.S. Treasury bonds fell in October this year, even as some countries including Japan and the United Kingdom increased their positions. China, the third-largest holder, reduced its U.S. Treasury holdings by $11.8 billion (S$15.22 billion) in October to $688.7 billion, hitting the lowest level since 2008.

Against the backdrop of China’s massive sell-off of U.S. Treasuries, total overseas holdings dropped by $5.8 billion to $9.24 trillion that month; the figure includes net sales and valuation changes. The Bloomberg U.S. Treasury Index rose for the third consecutive month in October.

Belgium, which is viewed by market analysts as the location of China’s custodial accounts, increased its holdings by $1.6 billion to $468.4 billion in the same month.

Bloomberg noted that concerns over overseas sell-offs have drawn extra attention to the Treasury’s holdings data this year. However, U.S. Treasury Secretary Janet Yellen has consistently pushed back against claims of a “sell America” trend.

Japan, the largest foreign holder of U.S. Treasuries, increased its holdings by $10.7 billion to $1.2 trillion, reaching the highest level since July 2022.

The United Kingdom, the second-largest holder, added $13.2 billion to its holdings, bringing the total to $877.9 billion.

Canada’s holdings plummeted by $56.7 billion to $419.1 billion. The U.S. neighbor has seen large-scale buying and selling this year, with monthly fluctuations exceeding $50 billion becoming the norm.