UAE – Mubasher: The UAE raised its investments in US Treasury bonds by 2.9% month-on-month (MoM) to $38.4 billion in October, compared to $37.3 billion, data by the US Department of the Treasury revealed.

Year-on-year, the GCC nation's holdings of US Treasuries fell by 33.4%, or $19.3 billion from $57.7 billion in October 2018.

During the first ten months of 2019, the UAE's investments in the US Treasury bonds tumbled by 32%, or $18.3 billion, when compared to $56.7 billion in December 2018.

In October, the UAE came on the 30th place among global holders of the US Treasury bonds, with Japan topping the list with $1.168 trillion, followed by China with $1.10 trillion.

At the level of Arab states, the UAE retained the third spot after Saudi Arabia, whose investments reached $178.9 billion and Kuwait with investments totalling $43.8 billion.