Japan Set to Pass China as Obama's Chief Financier

From Bloomberg - Japan is poised to pass China as the largest U.S. creditor for the first time since August 2008 as growing demand for U.S. government debt reduces borrowing costs for President Barack Obama as the deficit swells. Japan added $55.3 billion of Treasuries this year, swelling its holdings 7.2 percent to $821 billion, Treasury data show. China, which overtook Japan in September 2008, cut its stake by $48.1 billion, or 5.4 percent, to $846.7 billion. Japan made its biggest purchase in 10 months in July, just after China cut its position by the most on record. Read more here:

Japan Set to Pass China as Obama's Chief Financier