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By Gertrude Chavez-Dreyfuss
NEW YORK (Reuters) – Foreign holdings of U.S. Treasuries rose to an all-time peak in July, data from the Treasury Department showed on Thursday, hitting record highs for a third straight month, led by gains in holdings from Japan and the United Kingdom.
Holdings of U.S. Treasuries surged to $9.159 trillion in July, up from $9.126 trillion the previous month. Compared with a year earlier, Treasuries owned by foreigners were up nearly 9%.
China’s holdings of Treasuries, on the other hand, dropped to $730.7 billion, its lowest since December 2008 when the world’s second-largest economy held $727.4 billion.
The country’s reduction of its U.S. Treasury holdings has been a gradual process over the past decade, driven by both strategic and market factors. Strategic
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