Russia reduces holdings in US debt for second straight month: data

MOSCOW: Russia sold $7 billion of its holdings in US Treasury bonds and notes in October, its second straight monthly sale after seven months of increases, according to US Treasury Department data released late on Tuesday.

Russia followed other countries and foreign investors who sold a record amount of holdings in US debt in October on expectations of the US Federal Reserve rate increase this month, which would make returns on the debt less attractive.

According to the US Treasury Department data, Russia is the 15th largest holder of US debt with $82 billion worth of holdings. In September, the holdings stood at $89.1 billion. The data is preliminary and can be revised later.



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