China Drops to Number Three Holder of Treasuries, Behind UK

China shrank its holdings of US Treasuries in March, with the UK replacing it as the No. 2 overseas owner.

The month, which preceded the April turmoil in the Treasuries market, saw a second straight jump in foreign purchases, to a fresh record high. Total overseas holdings rose $233.1 billion, to $9.05 trillion, Treasury Department figures showed Friday.