Graph and download economic data for Assets: Securities Held Outright: U.S. Treasury Securities: All: Wednesday Level (TREAST) from 2002-12-18 to 2025-11-26 about maturity, Treasury, securities, and USA.

The Federal Reserve's balance sheet has undergone significant changes since 2007, reflecting its response to major economic crises. From a modest *** trillion U.S. dollars at the end of 2007, it ballooned to approximately **** trillion U.S. dollars by October 29, 2025. This dramatic expansion, particularly during the 2008 financial crisis and the COVID-19 pandemic—both of which resulted in negative annual GDP growth in the U.S.—showcases the Fed's crucial role in stabilizing the economy through expansionary monetary policies. Impact on inflation and interest rates The Fed's expansionary measures, while aimed at stimulating economic growth, have had notable effects on inflation and interest rates. Following the quantitative easing in 2020, inflation in the United States reached ***** percent in 2022, the highest since 1991. However, by August 2025, inflation had declined to *** percent. Concurrently, the Federal Reserve implemented a series of interest rate hikes, with the rate peaking at **** percent in August 2023, before the first rate cut since September 2021 occurred in September 2024. Financial implications for the Federal Reserve The expansion of the Fed's balance sheet and subsequent interest rate hikes have had significant financial implications. In 2024, the Fed reported a negative net income of ***** billion U.S. dollars, a stark contrast to the ***** billion U.S. dollars profit in 2022. This unprecedented shift was primarily due to rapidly rising interest rates, which caused the Fed's interest expenses to soar to over *** billion U.S. dollars in 2023. Despite this, the Fed's net interest income on securities acquired through open market operations reached a record high of ****** billion U.S. dollars in the same year.

In 2018, the average total volume of treasury securities traded per day was over 547 billion U.S. dollars. This means that every day the market was open, the average amount of U.S. government securities bought and sold amounted to half a trillion U.S. dollars in that year.

What are treasury securities?

Treasury securities are U.S. government debt, bonds sold to finance the United States government. Since the United States is seen as a guaranteed investment, these bonds are often used by large financial firms as collateral. The yield on a Treasury bond is minimal, but these institutions often do not hold them until maturity, instead trading them on secondary market.

Other options

The federal funds rate is the rate the Federal Reserve charges banks for overnight loans. Other assets, such as mortgaged backed securities, can also be used like treasury securities. Mortgage backed securities are bundles of home loans packaged together. Such bundling makes the overall security safer, unless there is a systemic shock to the housing market which would undermine the entire package.

As of December 2024, Japan held United States treasury securities totaling about 1.06 trillion U.S. dollars. Foreign holders of United States treasury debt According to the Federal Reserve and U.S. Department of the Treasury, foreign countries held a total of 8.5 trillion U.S. dollars in U.S. treasury securities as of December 2024. Of the total held by foreign countries, Japan and Mainland China held the greatest portions, with China holding 759 billion U.S. dollars in U.S. securities. The U.S. public debt In 2023, the United States had a total public national debt of 33.2 trillion U.S. dollars, an amount that has been rising steadily, particularly since 2008. In 2023, the total interest expense on debt held by the public of the United States reached 678 billion U.S. dollars, while 197 billion U.S. dollars in interest expense were intra governmental debt holdings. Total outlays of the U.S. government were 6.1 trillion U.S. dollars in 2023. By 2029, spending is projected to reach 8.3 trillion U.S. dollars.

In June 2025, the average yield on ten-year government bonds in the United States was **** percent. This was the ******* of the selected developed economies considered in this statistic. Bonds and yields – additional information The bond yield indicates the level of return that the investor can expect from a given type of bond. The government of Italy, for instance, offered the investors **** percent yield on ten-year government bonds for borrowing their money in June 2025. In the United States, government needs are also financed by selling various debt instruments such as Treasury bills, notes, bonds and savings bonds to investors. The largest holders of U.S. debt are the Federal Reserve and Government accounts in the United States. The major foreign holders of the United States treasury securities are Japan, Mainland China, and the United Kingdom.

United States New Security Issues: US Corporations: Bonds: Sold in US data was reported at 126.327 USD bn in May 2018. This records a decrease from the previous number of 130.798 USD bn for Apr 2018. United States New Security Issues: US Corporations: Bonds: Sold in US data is updated monthly, averaging 119.231 USD bn from Feb 2003 (Median) to May 2018, with 184 observations. The data reached an all-time high of 273.357 USD bn in Mar 2007 and a record low of 20.331 USD bn in Sep 2008. United States New Security Issues: US Corporations: Bonds: Sold in US data remains active status in CEIC and is reported by Federal Reserve Board. The data is categorized under Global Database’s USA – Table US.Z030: New Security Issues: Corporations.

View values of the average interest rate at which Treasury bills with a 3-month maturity are sold on the secondary market.

United States New Security Issues: US Corporations: Bonds: Sold Abroad data was reported at 4.432 USD bn in May 2018. This records an increase from the previous number of 713.000 USD mn for Apr 2018. United States New Security Issues: US Corporations: Bonds: Sold Abroad data is updated monthly, averaging 10.688 USD bn from Feb 2003 (Median) to May 2018, with 184 observations. The data reached an all-time high of 51.954 USD bn in Nov 2006 and a record low of 5.000 USD mn in Aug 2013. United States New Security Issues: US Corporations: Bonds: Sold Abroad data remains active status in CEIC and is reported by Federal Reserve Board. The data is categorized under Global Database’s USA – Table US.Z030: New Security Issues: Corporations.

Graph and download economic data for Federal Debt Held by Foreign and International Investors (FDHBFIN) from Q1 1970 to Q2 2025 about foreign, debt, federal, and USA.

新证券发行量：美国企业：债券：出口在05-01-2018达4,432.000百万美元，相较于04-01-2018的713.000百万美元有所增长。新证券发行量：美国企业：债券：出口数据按月更新，02-01-2003至05-01-2018期间平均值为10,688.000百万美元，共184份观测结果。该数据的历史最高值出现于11-01-2006，达51,954.000百万美元，而历史最低值则出现于08-01-2013，为5.000百万美元。CEIC提供的新证券发行量：美国企业：债券：出口数据处于定期更新的状态，数据来源于Federal Reserve Board，数据归类于Global Database的美国 – 表 US.Z030：新证券发行量：企业。

Graph and download economic data for Security Brokers and Dealers; Corporate and Foreign Bond Securities Sold Short; Liability, Market Value Levels (BOGZ1LM664166303A) from 1945 to 2024 about brokers, market value, dealers, foreign, liabilities, bonds, corporate, securities, sales, and USA.

Graph and download economic data for Security Brokers and Dealers; Corporate and Foreign Bond Securities Sold Short; Liability, Market Value Levels (BOGZ1LM664166303Q) from Q4 1945 to Q2 2025 about brokers, market value, dealers, foreign, liabilities, bonds, corporate, securities, sales, and USA.

Graph and download economic data for Security Brokers and Dealers; Corporate and Foreign Bond Securities Sold Short; Liability, Level (BOGZ1FL664140633A) from 1945 to 2024 about brokers, dealers, foreign, liabilities, bonds, corporate, securities, and USA.

Graph and download economic data for Security Brokers and Dealers; Corporate and Foreign Bond Securities Sold Short; Liability, Revaluation (BOGZ1FR664140633Q) from Q4 1946 to Q2 2025 about brokers, revaluation, dealers, foreign, liabilities, bonds, corporate, securities, and USA.

Graph and download economic data for Security Brokers and Dealers; Corporate and Foreign Bond Securities Sold Short; Liability, Transactions (BOGZ1FA664140633Q) from Q4 1946 to Q2 2025 about brokers, dealers, foreign, transactions, liabilities, bonds, corporate, securities, and USA.

Graph and download economic data for Security Brokers and Dealers; Corporate and Foreign Bond Securities Sold Short; Liability, Revaluation (BOGZ1FR664140633A) from 1946 to 2024 about brokers, revaluation, dealers, foreign, liabilities, bonds, corporate, securities, and USA.