The United States consistently depends on the investment community to support its expanding financial obligations, which amounted to $38.6 trillion as of February 2026. An analysis of activity between November 2024 and November 2025 highlights some interesting movements among major international players. During this specific window, Japan, the UK, and Belgium stood out as the primary purchasers of American debt, with each nation boosting their portfolios by more than $115 billion. In contrast, China pulled back significantly, reducing its position by $86 billion and ranking as the leading net seller for that period. Despite these varied strategies across different nations, the global appetite for U.S. Treasuries remains robust, pushing total foreign holdings to a historic peak of $9.4 trillion.

@VisualCap