Tuesday, December 1, 2020

Tag: with foreigners having shed $21 billion over the 12-month period

Who Bought the $1.47 Trillion of New US National Debt over the Past 12 Months?

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by Wolf Richter, Wolf Street:

China, Japan, other foreign investors, the Fed, US government funds? Nope.

Foreign private-sector investors and “foreign official” investors – central banks, governments, etc. – whittled down their holdings of US Treasury Securities by $21 billion at the end of  July, compared to a year ago, to $6.25 trillion, according to the Treasury Department’s TIC data released Tuesday afternoon.

Over the same period, the US gross national debt – fueled by a stupendous spending binge and big-fat tax cuts – soared, despite a booming economy, by a brain-wilting $1.468 trillion, in just 12 months.