Foreign Purchases of Treasuries Hit 15-Month High as China Buys

Foreign investors bought the most U.S. Treasury bonds and notes since February 2014 as China and oil-exporting countries boosted holdings of the world’s safest securities.

Net purchases by foreigners were $53.4 billion in May compared with $6.4 billion a month earlier, according to Treasury data released Thursday.

China’s holdings rose to $1.27 trillion, the highest level since May 2014 and a 0.5 percent increase from the previous month. Oil exporters added 1.3 percent to $296.8 billion.

Japan’s holdings declined $1 billion to $1.21 trillion, the lowest since April 2014.