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Foreign holdings of US Treasury debt drop in April

[June 15, 2013]  WASHINGTON (AP) -- Foreign demand for U.S. Treasury securities fell in April for the first time in more than a year, as China and Japan both trimmed their holdings.

The Treasury Department said Friday that total foreign holdings dropped 1.2 percent in April from March to $5.67 trillion.

China, the largest foreign buyer of Treasury debt, reduced its holdings 0.4 percent to $1.26 trillion. Japan, the second-largest buyer, cut its holdings 1.2 percent to $1.1 trillion.

Even with the reductions, Treasury debt held by foreigners is up 8.6 percent from a year ago. The gain shows overseas investors are still buying U.S. debt, despite sharp debates in Congress over reducing federal deficits.

[Associated Press; By MARTIN CRUTSINGER]

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