🚨 BREAKING: Foreign demand for 🇺🇸
US Treasuries remains VERY strong.
📊 Foreign holdings jumped +$112.8B in November, hitting a record $9.4 TRILLION.
🔍 Key moves: 🇯🇵 Japan added +$2.6B, now at $1.2T (highest since Jul 2022)
🇬🇧 UK increased +$10.6B to $888.5B (2nd-highest ever)
🇨🇦 Canada surged +$53.1B to $472.2B
🇧🇪 Belgium (incl. China custodial flows) hit a record $481B.
⚠️ Meanwhile, 🇨🇳 China cut holdings by -$6.1B to $682.6B, lowest since 2008.
💡 Bottom line: Global capital is still parking in US debt — liquidity hasn’t left, it’s just rotating.
