WASHINGTON (AP) — Foreign holdings of U.S. Treasury securities rose in January to the highest level in a year even though the biggest foreign owner, China, cut back slightly.
The Treasury Department says total foreign holdings increased 0.7 percent to $6.18 trillion, the highest level since they were at $6.22 trillion in January 2015. China trimmed its holdings 0.7 percent to $1.24 trillion while Japan, the second largest foreign owner of Treasury debt, boosted its holdings 0.1 percent to $1.12 trillion.
In addition to Japan's small increase, other countries increasing their holdings were Switzerland, the United Kingdom, Belgium, Taiwan and India.
The national debt now stands at a record $19.1 trillion. With the federal budget deficit projected to grow, the United States will need to see continued strong foreign demand for Treasury debt.