RTTNews - Foreigners acquired a total of $36.9 billion of long-term U.S. securities in March, government data showed Friday, a large jump from the previous month, when net purchases totaled just $5.4 billion.
The increase came as foreign governments once again began buying U.S. government-backed debt, good news for the Treasury Department as it attempts to finance the massive stimulus program Congress had put into effect.
Statistics from the Treasury Department showed that overseas investors bought $56.4 billion of U.S. securities in March, up from purchases of $20.8 billion in February and net sales of $11.7 billion in the first month of the year.
This was led by a turnaround in the behavior of foreign governments, which purchased a total of $26.4 billion in U.S. securities in March. This followed a string selling from overseas governments, including net sales of $5.1 billion in February and $8.5 billion in January.
Foreign governments bought $29 billion of U.S. Treasury bonds, after selling $2 billion in February and selling $1.9 billion in January.
Private investors from overseas bought $30 billion in U.S. securities, up from $25.9 billion in the previous month.
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