China, Japan again sell US debt; China's holdings hit 12-year low
Japan, the US' largest creditor, China, its second largest and the UK, the third largest, all cut US debt holdings in October. Analysts said that the sale by so many economies was a sign of their waning confidence in US debt.
China's holdings of US Treasury bonds decreased by $24 billion to $909.6 billion in October, the lowest level since June 2010, according to data from Treasury International Capital (TIC), reporting system of the US, released on Friday.
Japan's holdings of US Treasuries fell $42 billion to $1.078 trillion in October, marking the fourth consecutive month of selling and the lowest in more than three years.
In October, only Belgium and France among the top 10 holders of US debt increased their holdings, while all eight other economies reduced them.
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