Foreign Demand for U.S. Debt Still Growing

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International investors demand for U.S. Treasury securities is still growing despite America's enormous budget deficits, according to a new report released by U.S.Treasury Department on Monday.
    
Foreign countries see American bonds as a safe haven in a time of economic uncertainty. 

"In August, foreign investors were hungry, very hungry, for U.S. Treasury bonds and notes. As a result, net private and public purchases of U.S. Treasuries reached their third highest level on record, at $136.6 billion," Gregory Daco, U.S. senior economist at IHS Global Insight, told the AFP.

"As we have seen over the last months, in times of great uncertainty over the global recovery investors continue to view U.S. securities as a safe-haven refuge," he added.

China is the largest holder of U.S. Treasury debt with $868.4 billion. Japan is number two with $836.6 billion, and Britain ranked third with $227 billion.

All three countries have been buying more Treasury securities.

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