On December 20th, the US Treasury Department released the October 2024 International Capital Flows Report (TIC) on Thursday (December 19th) local time. The report shows that China, the second largest overseas “creditor” of the United States, reduced its holdings of US Treasury bonds by $11.9 billion in October compared to the previous month, and its total holdings decreased to $760.1 billion. This is the fourth consecutive month that China has reduced its holdings of US Treasury bonds. This further reduction in holdings has caused China’s US Treasury holdings to fall below the low of $769.6 billion in October last year, setting a new low since February 2009. In February 2009, China’s holdings of US Treasury bonds were $744.2 billion.
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