WASHINGTON (AP) — Foreign buyers of U.S. Treasury securities increased their holdings in March to a record high.
The Treasury Department says total foreign holdings rose 1 percent to $5.95 trillion from $5.89 trillion in February.
China, the largest foreign buyer of Treasury debt, reduced its holdings by less than 0.01 percent to $1.27 trillion. Japan, the second-largest buyer, cut its holdings 0.8 percent to $1.2 trillion.
Belgium, Luxembourg and Caribbean countries involved in banking all increased their holdings. Meanwhile, Russia shed almost 21 percent of its holdings in March following international tensions over its move to annex part of Ukraine.
Foreign demand for U.S. Treasury securities is expected to remain strong this year, aided by more borrowing certainty with a congressional agreement to suspend the debt limit until March 2015.