Foreign holdings of US Treasury debt hits record high - WAOW - Newsline 9, Wausau News, Weather, Sports

Foreign holdings of US Treasury debt hits record high

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WASHINGTON (AP) -- Foreign demand for U.S. Treasury debt rose in November to the highest level ever, even as China trimmed its purchases for a second straight month.

The Treasury Department says total foreign holdings increased 1.7 percent in November to $4.75 trillion.

Japan, the second-largest buyer of Treasury debt, increased its holdings 6 percent to $1.04 trillion.

China, the largest foreign holder, trimmed its holdings 0.1 percent to $1.13 trillion.

The increase in total foreign holdings pushed them to a record level, indicating that foreign demand for U.S. government debt remains strong. That strength comes despite a prolonged debate this summer over increasing the nation's borrowing limit.

(Copyright 2012 by The Associated Press. All Rights Reserved.)

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