Japan Cut Holding of US Treasury Bonds

Japan cut holding of US Treasury Bonds by US$28.9 billion in September, yet remains the top non-US holder of Treasuries that it first became in June, 2019.To get more news about WikiFX, you can visit WikiFX news official website.
According to the monthly data released by US Treasury this Monday, the value of US Treasury Bonds held by Japan dropped around US$28.9 billion to 1.15 trillion. At one point in August, Japans holding of US Bonds totaled US$1.175 trillion, a record high since late 2000. China, another major foreign holder of US debt, reduced holding of Treasury Bonds by US$2 billion to US$1.102 trillion in September.
The 10-year bond yield curve of US Treasury Bonds suggests that the JPY remains on a bearish trend, if USD/JPY‘s trend remain highly relevant to the 10-year bond yield, it’s likely the pair will drop to the level of 104. On the other hand, Japan revised its annual GDP growth rate in the second quarter from 1.3% to 1.8%, which partly offsets the negative influence of 0.2% slowdown in the third quarter.