Archive · 17 Jan 2026
Foreign US Treasury Holdings Hit Record High
In November 2023, foreign countries and investors bought a lot of US government debt, called Treasuries, pushing the total amount they own to a record high of $9.355 trillion.
This happened because investors felt more confident after the US government reopened following a long shutdown.
Japan, the UK, and Canada were among the biggest buyers, while China reduced its holdings to the lowest level since 2008.
China is also moving some of its money to buy more gold and other investments instead of US debt.
Overall, this shows that many countries still see US Treasuries as a safe and attractive investment, even though China is slowly selling some of its holdings.
Foreign holdings of US Treasuries reached a record high of $9.355 trillion in November 2023, up from $9.243 trillion in October 2023.
Japan remained the largest foreign holder of US Treasuries, increasing its holdings to $1.202 trillion.
The UK raised its exposure to $888.5 billion, while Canada's holdings rebounded by 13% to a record $472.2 billion.
China reduced its holdings to $682.6 billion, the lowest level since September 2008, and is diversifying its forex reserves towards gold and overseas equity investments.
Foreign investors bought $85.6 billion in Treasuries in November 2023, and the benchmark 10-year Treasury yield slipped to 4.019% by month-end.
- Who
- Foreign investors, including Japan, the UK, Canada, and China
- What
- Foreign holdings of US Treasuries reached a record high in November 2023
- When
- November 2023
- Where
- United States
- Why
- Investor sentiment improved after the end of the US government shutdown, leading to increased demand for US government debt
- Total foreign holdings of US Treasuries in November 2023
- $9.355 trillion
- Japan's holdings of US Treasuries
- $1.202 trillion
- UK's holdings of US Treasuries
- $888.5 billion
- Canada's holdings of US Treasuries
- $472.2 billion
- China's holdings of US Treasuries
- $682.6 billion
- Foreign purchases of US Treasuries in November 2023
- $85.6 billion
- US net capital inflows in November 2023
- $212 billion
- Benchmark 10-year Treasury yield at the end of November 2023
- 4.019%
- China's forex reserves at the end of December 2025
- $3.3579 trillion
- China's gold reserves at the end of December 2025
- 74.15 million ounces
