Iraq raises holdings of US Treasuries in July

Shafaq News/ Iraq increased its holdings of US Treasuries in July 2022 to $34.587 billion, up by 8.2% above June 2022 ($31.965 billion), data from the U.S. Treasury department showed.

Iraq's stash of Treasury debt holdings was only $19 billion in July 2021.

The data published on Friday revealed that Iraq's holdings are $14.149 billion in long-term debt securities and $20.393 billion in short-term securities. These securities account for 0.45% of the Global holdings.

Overall, foreign holdings of Treasuries rose to $7.501 trillion in July, from 7.430 trillion in June.

On a transaction basis, U.S. Treasuries saw net foreign inflows of $23.12 billion in July, down from $58.9 billion the previous month. U.S. Treasuries have posted foreign inflows for a third straight month.

The inflows generally tracked price action in the Treasuries market. The benchmark 10-year Treasury yield started July at 2.904% , and ended the month at 2.642%.

China's holdings rose to $970 billion in July, from $967.8 billion in June, which was the lowest since May 2010 when it had $843.7 billion.

Japan, on the other hand, reduced its Treasury debt holdings to $1.234 trillion in July from $1.236 trillion the previous month. Japan remains the largest non-U.S. holder of Treasuries.

Saudi Arabia remains the largest holder among Arabs with $121.611 billion, followed by Kuwait and the United Arab Emirates with $49.377 and $41.315 billion. Iraq ranked fourth with $34.587 billion. Oman and Morocco's holdings stood at $6.996 and $3.783 billion each.