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The share of non-resident holdings of US Treasuries fell again at the end of 2017

Against of backdrop of rising US fiscal deficits and of rumors of less foreign purchases of US Treasuries ( https://www.bloomberg.com/news/articles/2018-01-10/china-officials-are-said-to-view-treasuries-as-less-attractive ), it is interesting to note that the share of non-resident holdings of US Treasuries fell again at the end of 2017, to 43.6%. 

The Chinese holdings of US Treasuries have stabilized over the recent months. However, it is striking that the Japanese holdings of US Treasuries are declining slowly but surely (it has hit a 6 year low in December) while Eurozone holdings of US Treasuries have stabilized in 2017 (same for Latin American countries).The share of non-resident holdings of US Treasuries became very negatively correlated with the US long-term yields over the past years.

Graph-Non-resident-holding
DRUT Bastien , Senior Strategist at CPR AM
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The share of non-resident holdings of US Treasuries fell again at the end of 2017
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