There has been a lot of talk in recent years about how China was taking charge of the American economy by buying up all our Treasury debt, but there's a new sheriff in town. In February, Japan surpassed China to become the largest foreign holder of U.S. Treasurys for the first time since 2008, according to Treasury International Capital.
Japanese holdings of Treasurys actually fell by $14.2 billion to $1.224 trillion in February. But China’s declined even more, by $15.4 billion, to end up at $1.223 trillion. On a year-over-year basis, Japan’s holdings increased $13.6 billion, while China’s declined $49.2 billion.
The third biggest holder of U.S. Treasurys may be a bit of a surprise: It's a group of countries known as the Caribbean Banking Centers. That group, which includes the Bahamas, Bermuda, Cayman Islands, Netherlands Antilles, and Panama, collectively held $350.6 billion of our debt in February.
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