European Countries’ Exposure to US Treasuries Is Small but Relevant

Our Cookie Policy has been updated! The Conference Board uses cookies to improve our website, enhance your experience, and deliver relevant messages and offers about our products. Detailed information on the use of cookies on this site is provided in our cookie policy. For more information on how The Conference Board collects and uses personal data, please visit our privacy policy. By continuing to use this Site or by clicking "OK", you acknowledge our privacy policy and consent to the use of cookies.

Europe in Flux

European Countries’ Exposure to US Treasuries Is Small but Relevant

30 May 2025 / Article

Download Article

Nearly a quarter of all US government debt, 24%, is foreign owned. Japan and China have pared back their US debt holdings since 2020 but remain the two biggest owners, followed by the UK. EU countries have increased their exposure to US debt since 2020, but their holdings are small in relation to their total assets, which has kept their exposure contained. US Treasuries have long been considered a “safe haven” long-term investment for many investors. Any market turbulence can be very contagious, so recent turmoil in the debt market serves as a reminder of the very real financial stability risks that trade wars can bring.

Authors

Maria Demertzis

Economy, Strategy and Finance Center Leader, Europ…
The Conference Board

Read Bio

Matei Farcas

Economic Research Assistant
The Conference Board

Read Bio

This publication is available to you, but you need to sign in to myTCB^® or create an account to access it.To learn more about becoming a Member click here. To check if your company is a Member, click here

Sign In
Create An Account

By Clicking 'Create Account',
You Agree To Our Terms Of Use

Create Account

Members of The Conference Board get exclusive access to Trusted Insights for What’s Ahead^® through publications, Conferences and events, webcasts, podcasts, data & analysis, and Member Communities.