Foreign holdings of US Treasuries rose in August from the lowest level since October 2025, led by increases in the stockpiles of Canada and Belgium.
Overseas holdings climbed more than $83 billion from July, according to data published by the Treasury Department on Friday. The total now stands at $9.33 trillion.
The foreign holdings data incorporate changes in valuation as well as net sales and purchases. The Bloomberg US Treasury index advanced 0.3% in August, before a tumble in September on concerns about persistent inflation and a new cycle of Federal Reserve interest-rate hikes.
Japan, the biggest foreign holder of Treasuries, saw a $36 billion drop in its holdings, to $1.1 trillion, the lowest since December 2024. Japanese officials were intervening over the summer in the foreign-exchange market, buying yen amid a slump in the currency to its weakest in four decades against the dollar. Japanese data last month suggested Tokyo sold a portion of its holdings of Treasuries and other securities.
Mainland China, the third-largest holder of Treasuries, saw a $27 billion fall in August, Friday’s report showed. The total is now at an 18-year low of $591 billion. Some analysts have said that Beijing might have channeled some of its transactions in US securities via other nations, including Canada.