WASHINGTON/NEW YORK ¨C Japan surpassed China in June as the top holder of U.S. Treasurys after raising its holdings to a nearly three-year high, as the trade war between the world¡¯s two largest economies intensified.
Holdings of U.S. bonds, bills and notes were increased by $21.9 billion to $1.12 trillion, the highest level in more than 2? years, according to data released by the Treasury Department on Thursday. Meanwhile, China¡¯s ownership rose for the first time in four months to $1.11 trillion, up by $2.3 billion.
The last time Japan held the position as America¡¯s largest foreign creditor was May 2017. From January to May 2017, Japan held more Treasurys than China, data showed.
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