Mubasher: Kuwait’s holdings of US Treasury bonds jumped by 8.9% year-on-year in March to $40.2 billion from $36.9 billion, data by the US Department of the Treasury showed.

Quarter-on-quarter, the GCC state’s investment in the US sovereign debts fell by 4.6%, compared to holdings of $42.3 billion in February, the US department added in a recent report.

The state’s holdings of the US debt instruments included $34.09 billion worth long-term bonds and $6.15 billion short-term bonds.

Kuwait came in the third spot among the top Arab holders of US government bonds, while Saudi Arabia led the list with holdings of $170 billion, the report revealed.

At the global level, China topped the list with $1.12 trillion followed by Japan with holdings of $1.078 trillion and the UK with $317.1 billion.