Foreign holdings of US treasury debt rise to record

Foreign buyers of U.S. Treasury debt increased their holdings in March to a record high. Total foreign holdings of Treasury securities rose 1 percent to $5.95 trillion from $5.89 trillion in February, the department reported Thursday. China, the largest foreign buyer of U.S. debt, kept its holdings steady at $1.27 trillion. Japan, the second-biggest buyer, reduced its holdings 0.8 percent to $1.2 trillion. Belgium, Luxembourg, and Caribbean countries involved in banking all increased their holdings. Russia sold nearly 21 percent of its holdings in March following international tensions over tis move to annex part of Ukraine. Foreign demand for U.S. Treasury debt is expected to remain strong this year, aided by more borrowing certainty under a congressional agreement to suspend the U.S. debt ceiling until spring 2015.