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Foreign holdings of U.S. long-term securities rise in November 2010
Date: 2011/1/20 Click: 1708
Total foreign holdings of U.S. long-term securities in November 2010 reached 4346.8 billion dollars, up 39.5 billion dollars, or 0.9 percent from the previous month, the U.S. Treasury Department reported Tuesday.

The figures reflect demand for U.S. Treasury obligations and other assets, including stocks and government agency debt, a key to funding the massive U.S. balance of payments deficit with the rest of the world.

According to the Treasury International Capital (TIC) report, China, the largest holder of U.S. Treasury securities, trimmed its holdings from 906.8 billion dollars in October to 895.6 billion dollars in November.

However, Japan, the second largest foreign holder of U.S. government debt, raised its holdings by 2.2 billion dollars to 877.2 billion dollars.

Britain, the third largest holder, also boosted its holdings to 511.8 billion dollars in November from 478.5 billion dollars in October.

The debt figures are closely watched at a time when more and more Americans believe that the U.S. soaring debt is unsustainable. The federal debt surpassed 14 trillion at the end of 2010 and the federal government will be on the edge of bankruptcy if Congress does not increase the debt ceiling, which is 14.3 trillion dollars.

The U.S. federal budget deficit reached 1.29 trillion dollars in the fiscal year 2010 ended September 30. It recorded a historic high of 1.42 trillion dollars in fiscal year 2009, when the economy was hit deeply by the financial crisis.
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