01/19/2016 16:08 EST | Updated 01/19/2017 00:12 EST

Foreign holdings of US Treasury debt rose in November

WASHINGTON — Foreign holdings of U.S. Treasury securities increased in November to the highest point since June, led by a gain from China.

The Treasury Department says total holdings of U.S. government bonds by foreigners rose 1.3 per cent to $6.13 trillion after having fallen 1 per cent in October. It was the highest level since foreign holdings hit $6.18 trillion in June.

China, the largest foreign owner of U.S. government debt, increased its holdings by 0.8 per cent to $1.26 trillion. Japan, the No. 2 holder of Treasury debt, cut its holdings by 0.4 per cent to $1.14 trillion. It was the fourth monthly decline by Japan.

Foreign demand for federal debt is expected to remain strong in 2016, a year when the federal deficit is forecast to rise.

Martin Crutsinger, The Associated Press