US Flow of Funds: Rest of World Holdings of US Public & Private Debt

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US Flow of Funds: Rest of World Holdings of US Public & Private Debt December 4, 217 Dr. Edward Yardeni 516-972-7683 eyardeni@ Mali Quintana 48-664-1333 aquintana@ Please visit our sites at www. blog. thinking outside the box

Table Of Contents Table Of Contents Rest of The World 1-7 December 4, 217 / Rest of World Holdings of US Public & Private Debt www.

12 Figure 1. US DEBT SECURITIES: HELD BY REST OF THE WORLD (trillion dollars, nsa) 12 1 1 8 8 6 6 4 4 2 2 6 62 64 66 68 7 72 74 76 78 8 82 84 86 88 9 92 94 96 98 2 4 6 8 1 12 14 16 18 2 3 Figure 2. US DEBT SECURITIES: HELD BY REST OF THE WORLD (as a percent of total US debt securities outstanding) 3 2 2 1 1 6 62 64 66 68 7 72 74 76 78 8 82 84 86 88 9 92 94 96 98 2 4 6 8 1 12 14 16 18 2 Page 1 / December 4, 217 / Rest of World Holdings of US Public & Private Debt www.

7 6 Figure 3. US TREASURY SECURITIES: HELD BY REST OF THE WORLD (trillion dollars, nsa) 7 6 5 5 4 3 4 3 2 2 1 1 6 62 64 66 68 7 72 74 76 78 8 82 84 86 88 9 92 94 96 98 2 4 6 8 1 12 14 16 18 2 5 Figure 4. US TREASURY SECURITIES: HELD BY REST OF THE WORLD (as a percent of total US Treasury securities outstanding) 5 4 4 3 2 3 2 1 1 6 62 64 66 68 7 72 74 76 78 8 82 84 86 88 9 92 94 96 98 2 4 6 8 1 12 14 16 18 2 Page 2 / December 4, 217 / Rest of World Holdings of US Public & Private Debt www.

4. 3.5 Figure 5. US CORPORATE BONDS: HELD BY REST OF THE WORLD (trillion dollars, nsa) 4. 3.5 3. 3. 2.5 2.5 2. 2. 1.5 1.5 1. 1..5.5. 6 62 64 66 68 7 72 74 76 78 8 82 84 86 88 9 92 94 96 98 2 4 6 8 1 12 14 16 18 2. 4 Figure 6. US CORPORATE BONDS: HELD BY REST OF THE WORLD (as a percent of total US corporate bonds outstanding) 4 3 3 2 2 1 1 6 62 64 66 68 7 72 74 76 78 8 82 84 86 88 9 92 94 96 98 2 4 6 8 1 12 14 16 18 2 Page 3 / December 4, 217 / Rest of World Holdings of US Public & Private Debt www.

1 1.3 Figure 7. US DEBT SECURITIES: NET PURCHASES BY REST OF THE WORLD (trillion dollars, 4-quarter sum) 1 1.3 1 1 1.1 1.1 1. 1..9.9.7.7.5.5.3.3.1.1. 6 62 64 66 68 7 72 74 76 78 8 82 84 86 88 9 92 94 96 98 2 4 6 8 1 12 14 16 18 2. 1. Figure 8. US TREASURY SECURITIES: NET PURCHASES BY REST OF THE WORLD (trillion dollars, 4-quarter sum) 1... - 6 62 64 66 68 7 72 74 76 78 8 82 84 86 88 9 92 94 96 98 2 4 6 8 1 12 14 16 18 2 - Page 4 / December 4, 217 / Rest of World Holdings of US Public & Private Debt www.

Figure 9. US CORPORATE BONDS: NET PURCHASES BY REST OF THE WORLD (trillion dollars, 4-quarter sum).. - 6 62 64 66 68 7 72 74 76 78 8 82 84 86 88 9 92 94 96 98 2 4 6 8 1 12 14 16 18 2 - Figure 1. US AGENCY & GSE BACKED SECURITIES: NET PURCHASES BY REST OF THE WORLD (trillion dollars, 4-quarter sum).. - - - 62 64 66 68 7 72 74 76 78 8 82 84 86 88 9 92 94 96 98 2 4 6 8 1 12 14 16 18 2 - Page 5 / December 4, 217 / Rest of World Holdings of US Public & Private Debt www.

8 Figure 11. MAJOR FOREIGN HOLDERS OF US TREASURY SECURITIES (billion dollars) 8 6 Grand Total Foreign Official Instititutions Held by Foreign Central Banks Sep 6 4 4 2 2 21 22 23 24 25 26 27 28 29 21 211 212 213 214 215 216 217 218 8 Figure 12. FOREIGN OFFICIAL INSTITUTIONS (as a percent of grand total) 8 75 75 7 7 65 Sep 65 6 6 55 21 22 23 24 25 26 27 28 29 21 211 212 213 214 215 216 217 218 Source: US Department of the Treasury, Office of International Affairs. 55 Page 6 / December 4, 217 / Rest of World Holdings of US Public & Private Debt www.

55 Figure 13. Rest of The World MAJOR FOREIGN HOLDERS OF TREASURY SECURITIES 55 5 5 45 4 Sep 45 4 35 35 3 25 2 Grand Total (as a percent of public debt) Foreign Official Institutions (as a percent of public debt) Sep 3 25 2 15 21 22 23 24 25 26 27 28 29 21 211 212 213 214 215 216 217 218 Source: US Department of the Treasury, Office of International Affairs, and US Treasury. 15 1 9 8 7 6 5 4 3 2 1-1 -2-3 -4 Figure 14. MAJOR FOREIGN HOLDERS OF US TREASURY SECURITIES (billion dollars, yearly change) Grand Total Foreign Official Institutions 23 24 25 26 27 28 29 21 211 212 213 214 215 216 217 218 Source: US Treasury Department. Sep 1 9 8 7 6 5 4 3 2 1-1 -2-3 -4 Page 7 / December 4, 217 / Rest of World Holdings of US Public & Private Debt www.

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