How Foreign Buyers Are Quietly Exiting U.S. Treasuries

The National Debt Podcast with Fexingo: Treasury, Borrowing, and Long-Term Fiscal Outlook · Sep 7, 2026 · 9m · transcript

Japan’s foreign reserves dropped by a record eighty billion dollars in August, largely driven by yen intervention that forced the sale of U.S. Treasury holdings. Lucas and Luna explore what this sudden liquidity shift means for the American debt market when your biggest customer stops buying. With the ten-year yield holding near four point seven percent and total federal debt nearing thirty-nine trillion dollars, we examine whether foreign central banks are quietly exiting or just managing their own currency wars. The episode breaks down the mechanics of reserve management and why this…