China trimmed its holdings of US Treasury bonds in November, despite a strong buying surge by Britain and Japan, the other two major holders of the US securities, AFP reported. China reduced its holdings by US$9.3 billion dollars, from US$798.9 billion in October to US$789.6 billion by 30th November. Overall foreign purchases of long term securities rose to US$126.8 billion in November, with Japan increasing its holdings from US$745.9 billion to US$757.3 billion and Britain raising its holdings from US$230.7 billion to US$277.6 billion. Ed Friedman, of Moody’s Economy.com, said: "The November figure represented a tripling in the pace of foreign buying compared to the slow pace in the past several months."
Categories