March Saw Biggest Drop in Foreigners’ Treasury Pile This Century
- Shift came as pandemic rocked markets and sent yields plunging
- Japan remains the largest foreign holder of Treasuries
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Foreign holdings of Treasuries slumped in March by the most this century as pandemic-related global market turmoil sent U.S. debt yields plunging to record lows and volatility surged.
Total foreign ownership of Treasuries dropped $256.6 billion to $6.81 trillion, according to a report from the U.S. government released Friday. That’s the biggest drop in data stretching back to early 2000.