Foreign FlowsBuying or selling of U.S. Treasurys from overseasChina Other central banks Private investors $600 billion 10-year average 400 200 0 -200 -400 -600 2013 ’14 ’15 ’16 ’17 ’18 ’19 ’20 ’21 ’22 ’23 China Other central banks Private investors $600 billion 10-year average 400 200 0 -200 -400 -600 2013 ’14 ’15 ’16 ’17 ’18 ’19 ’20 ’21 ’22 ’23 China Other central banks Private investors $600 billion 10-year average 400 200 0 -200 -400 -600 2013 ’14 ’15 ’16 ’17 ’18 ’19 ’20 ’21 ’22 ’23 China Other central banks Private investors $600 billion 10-year average 400 200 0 -200 -400 -600 2013 ’14 ’15 ’16 ’17 ’18 ’19 ’20 ’21 ’22 ’23 China Other central banks Private investors $600 billion 10-year average 400 200 0 -200 -400 -600 2013 ’14 ’15 ’16 ’17 ’18 ’19 ’20 ’21 ’22 ’23Foreigners no longer have an insatiable appetite for U.S. government debt. That’s bad news for Washington. The U.S. Treasury market is in the midst of major supply and demand changes. The Federal Reserve is shedding its portfolio at a rate of about $60 billion a month. Overseas buyers who were once important sources of demand—China and Japan in particular—have become less reliable lately.

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Organizations: U.S, Foreigners, Washington, The U.S . Treasury, Federal Locations: China, The U.S, Japan