Foreign investors cut US Treasuries $50B to $9.25T, lowest since Oct 2025

Foreign holdings of US Treasuries declined by 50 billion dollars in July to 9.25 trillion dollars, the lowest total since October 2025. The monthly change reflects both net buying or selling and bond price movements. This was the fourth monthly decline in five months, with a cumulative reduction of 239 billion dollars over that span.

## Key data
- Foreign Treasury holdings in July: 9.25 trillion dollars, down 50 billion dollars month over month
- Trend: four declines in five months, totaling 239 billion dollars
- Measurement detail: figures incorporate net transactions and valuation shifts

## Major holders
- Japan: holdings fell by 13 billion dollars to 1.11 trillion dollars, the lowest since January 2025
- China: holdings fell by 15 billion dollars to 618 billion dollars, the lowest since August 2008

## Market context and implications
- Repeated declines and multi-year lows among top holders indicate reduced foreign exposure to US Treasuries.
- Lower foreign demand can pressure Treasury prices and raise yields.
- Higher US yields and a stronger dollar often coincide with weaker performance in risk assets, including cryptocurrencies.