UAE cuts investments in US T-bonds to $29bn in October

UAE cuts investments in US T-bonds to $29bn in October

Abu Dhabi - Mubasher: The UAE has not occupied a position among the top holders of the US Treasury bonds (T-bonds) for the second time this year in October.





The GCC country has lowered its holdings of the US Treasury bonds to $29.06 billion in October, compared with $33.1 billion a month earlier, as shown by data from the US Department of the Treasury.





Globally, Japan was the top holder of the US debt instruments in October with $1.269 trillion, compared to $1.276 trillion in September, followed by China with $1.05 trillion and the UK with $442.8 billion.





At the level of Arab states, Saudi Arabia took the 15th spot globally, hiking its investments in US T-bonds to $134.2 billion in October from $131.2 billion in September.





Kuwait came next with $47.1 billion, securing the 26th rank globally.