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China’s Holdings of Treasuries Hit Highest Since July 2019

  • Buying came amid worst quarter for Treasuries since 1980
  • Japan remained largest foreign holder of U.S. government bonds
The U.S. Treasury building in Washington, D.C.
The U.S. Treasury building in Washington, D.C.Photographer: Stefani Reynolds/Bloomberg
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China’s holdings of U.S. Treasuries rose in February to the highest since mid-2019 as yields climbed thanks to prospects of more stimulus for an American economy increasingly recovering from the coronavirus pandemic.

The Asian nation’s holdings -- the second-largest foreign holder behind Japan -- increased by $9 billion in Feb. to $1.1 trillion, the highest total since July 2019, according to figures from the Treasury Department released Thursday. It was the fourth straight monthly increase, the longest buying streak since 2017.