Move over, Beijing. Japan now owns more U.S. government debt than any other country, ending China’s six-year run as the top foreign holder of U.S. Treasuries.
Data from the Treasury Department released Wednesday show that Japan owned $1.2244 trillion worth of U.S. government securities at the end of February, compared to $1.2237 trillion for China.
Both countries unloaded U.S. debt during the month of January, but China sold more, making Japan the top U.S. creditor for the first time since the financial crisis.
The Treasury data should be taken with a grain of salt: Transactions carried out by other nations on behalf of China and Japan aren’t included, making the final tally more of an educated guess.