Foreign holdings of US Treasuries decline in April

USA-TREASURIES/SECURITIES (UPDATE 1):UPDATE 1-Foreign holdings of US Treasuries decline in April

Reuters
Updated19 Jun 2024, 02:27 AM IST
Foreign holdings of US Treasuries decline in April
Foreign holdings of US Treasuries decline in April

(Adds details of net inflows and context on Treasury markets)

June 18 (Reuters) - Foreign holdings of U.S. Treasuries declined in April from a record high in March, according to data released by the Treasury Department on Tuesday.

Holdings of U.S. Treasuries fell to $8.018 trillion in April from a revised $8.084 trillion in March.

Treasury International Capital System(TICS) data showed that the sum total of all net foreign acquisitions of long-term securities and banking flows was a net inflow of $66.2 billion, comprised of $44.2 billion of private inflows and $22 billion by foreign official institutions.

U.S. Treasuries weakened in April, pushing yields higher as investor expectations for how many times the Federal Reserve would cut interest rates this year, and when they would start, were scaled back due to reports showing U.S. inflation remained stubbornly above the Fed's target and growth remained strong.

The benchmark 10-year Treasury note yield rose to 4.612% from 4.194% during the month, while the yield on the two-year note rose to 5.046% from 4.603%.

The TICS report also showed Japan's stash of Treasuries shrank to $1.150 trillion in April from a 19-month high of $1.188 trillion in March. Japan remains the largest foreign holder of U.S. Treasury securities. China is No. 2 and saw its holdings rise to $771 billion from $767 billion in March.

Market participants have been focused on Japan's Treasury debt holdings due to the threat of intervention from the country's monetary authorities to bolster the yen, which had plunged to a 34-year low of 160.245 against the dollar on April 29.

(Reporting by Alden Bentley; Editing by Daniel Wallis)

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First Published:19 Jun 2024, 02:27 AM IST
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