Chinese bought up US Treasuries in November, pushing its holdings to a one-year high, Bloomberg reported. US Treasury data released Wednesday showed that China’s position increased 0.02% to US$1.17 trillion. However, Chinese demand for US sovereign debt dampened as the market’s focus shifted from the US election in November to fiscal concerns such as the expiration of tax cuts instituted by George W. Bush. “The Chinese, while arguably less active buyers than they have been, certainly have structural demand for Treasuries,” Ian Lyngen, a government-bond strategist at CRT Capital said. As long as money continues to flow into China, there will be excess US dollars to be invested, he said. The benchmark 10-year Treasury yield dropped to 1.82 Wednesday, down 0.2%, according to Bloomberg Bond Trader.