The Treasury Department says that Japan overtook China in February as the top foreign holder of U.S. Treasury securities, a position Japan last held in August 2008.
In its latest report, the department says that total foreign holdings of Treasury debt slipped a slight 0.9 percent in February to $6.16 trillion, down from a record of $6.22 trillion in January.
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The holdings of China, normally the top holder of Treasury debt, slipped 1.2 percent to $1.22 trillion. The holdings of Japan fell 1.1 percent from the January level. China's decline was a bit larger, allowing Japan to slip into the top spot, $700 million above China.