Treasury Statistics: Australia Cuts Down On US Treasuries By 45 PercentMay 17, 2011 5:03 am
There seems to be some vote of no-confidence slowly building up on US Debt – we all noticed how China has been cutting down on US Treasuries – but what gets missed out in that analysis is that there are many other small countries who are doing the same – for example, Australia has cut down its US Treasury securities holding from 18 billion dollars in September to 10.3 billion dollars now. Of course, China has been cutting down as well – from 1.17 trillion dollars in Oct 2010 t0 1.144 trillion dollars now (data upto March 2011).
With the US hitting its debt ceiling of 14 trillion dollars today, these seem to be interesting statistics.
Statistics Source: Treasury.gov