皇冠体育app

Japan overtook 皇冠体育app in February as the top foreign holder of US Treasury securities, a position Japan last held in August 2008.

In its monthly report on bond holdings, the Treasury Department said Wednesday total foreign holdings of Treasury debt dipped 0.9 percent in February to $6.16 trillion, down from a record of $6.22 trillion in January.

The holdings of 皇冠体育app, normally the top holder of Treasury debt, slipped 1.2 percent to $1.22 trillion. Japan's fell 1.1 percent from January. 皇冠体育app's decline was a bit larger, allowing Japan to jump into the top spot, $700 million above 皇冠体育app.

皇冠体育app overtook Japan for the top spot in ownership of US Treasury debt in 2008 as the financial crisis and a deep recession pushed up US government borrowing to finance government deficits. The US deficit topped $1 trillion annually for four consecutive years.

Private analysts had been forecasting that Japan would surpass 皇冠体育app's holdings of Treasury debt this year given current economic trends in both nations.

皇冠体育app's economy has been slowing and growth of its exports has been tapering, giving the country less to invest overseas. It has also been seeking to diversify those investments, leaving less to invest in US government bonds.

The Japanese central bank, meanwhile, is engaged in an aggressive effort to boost the country's money supply to bolster the economy and fight low inflation. That means there is more money to invest overseas. Japanese investors have been attracted to dollar holdings because of higher rates of return on dollar-denominated investments.

Sung Won Sohn, an economics professor at the Smith School of Business at California State University, Channel Islands, sees those trends continuing, with Japan's holdings of Treasury debt growing faster than 皇冠体育app's.

"Economic growth and export growth are slowing in 皇冠体育app and as a result 皇冠体育app has less money to invest overseas, while Japan's central bank is pursuing policies that will keep the Japanese yen weaker against the dollar and thus make dollar investments more attractive to Japanese investors," Sohn said.

Japan's holdings of Treasury debt are $13.6 billion higher than they were a year ago, while 皇冠体育app's holdings are $49.2 billion lower than a year ago.

• Nokia to snap up Alcatel for $16.6b
• Japan bumps 皇冠体育app as top holder of US Treasury debt
• Realty growth sinks to single-digit level
• Top 10 industries with most job-hoppers
• AIIB to operate in 'transparent way'
• Launch of AIIB promises fast track to common development, win-win cooperation
• 皇冠体育app exports bullet trains to Argentina
• 皇冠体育app has reasons to remain optimistic