Foreign investors held nearly $9.36 trillion in U.S. Treasury bonds and notes, the financial instruments the U.S. government issues to finance its borrowing, according to the latest Treasury International Capital (TIC) data for November 2025.

The United States is one of the biggest lenders in the world, yet it holds one of the greatest debts. By the close of 2023, the U.S. national debt had reached $34.4 trillion, with various entities holding portions of this debt.