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China no longer the largest lender of U.S. debt

2022-07-19 17:37:33Biznes SHKRUAR NGA REDAKSIA VOX

 

China is no longer the largest U.S. lender, as its holding U.S. debt portfolio fell below $1 trillion for the first time since 2010.

In May, China had $980.8 billion in U.S. debt, down $23 billion from last month and almost $100 billion from a year earlier, according to Treasury Department data released Monday. China has reduced its Treasury possessions for six consecutive months.

Japan, which cut its US debt stock to $1.212 trillion in May from $1.218 trillion in April, is now the main holder.

Total US foreign debt possessions fell to $7.421 trillion in May from $7.455 trillion in April.

Beijing has moved to diversify its debt possessions, while the Federal Reserve's rate hike cycle that began earlier this year has lowered U.S. bond prices.

In June, the central bank raised interest rates by 75 basis points and Wall Street generally forecasts the same increase at the next meeting in July.


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