Arab Today, arab today amid slowing us debt demand china raises holdings
Last Updated : GMT 16:46:11
Arab Today, arab today
Arab Today, arab today

Amid slowing US debt demand, China raises holdings

Arab Today, arab today

Arab Today, arab today Amid slowing US debt demand, China raises holdings

Washington - AFP

Foreign demand for US securities weakened in May as the country hit its borrowing limit, but China increased its holdings for the second month in a row, the Treasury said Monday. Net foreign buying of US long-term securities in May incoming foreign investment less outgoing US investment in foreign debt fell by 23 percent from April to $23.6 billion. The weaker demand for US debt came as the US government hit its legal borrowing limit of $14.3 trillion on May 16. Since then the government has been able to juggle finances to keep operating without defaulting on debt or slicing spending, as a political battle rages over whether Congress should raise the limit. Unless the limit is raised by August 2, though, the Treasury says, growing commitments could force a default. China, as the biggest investor in the United States, is being closely watched for shifts in its demand for US debt. For the second month in a row, China increased its Treasury holdings, to $1.16 trillion in May from $1.15 trillion in April. Japan and Britain, the second- and third-largest foreign buyers of US debt, also raised their holdings, the data showed. Japan\'s investment of $912.4 billion was up by $5.5 billion from April. Britain increased its holding by $13.5 billion, to $346.5 billion.

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