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 2023, China held **** percent of foreign held U.S. securities. Japan held a further **** percent of foreign held securities. The national debt of the United Stated can be found here.

The value of U.S. Treasury securities held by residents of Russia amounted to ** million U.S. dollars in March 2025, marking a stark contrast to ***** billion U.S. dollars held in January 2020. The lowest over the period under consideration was recorded in November 2023 at ** million U.S. dollars. Furthermore, in March 2020, the figure plummeted to **** billion U.S. dollars, down from **** billion U.S. dollars one month prior. Russia’s holdings of U.S. treasury securities have decreased since 2014 following the Western sanctions over the annexation of Crimea and have further dropped in 2022 after more restrictions were imposed over the war in Ukraine. What are U.S. treasury holdings? U.S. treasury holdings are government debt instruments that contribute to the funding of various government projects in the country. The U.S. Department of Treasury allows individuals and organizations to invest in treasury notes, bills, and bonds, which are the main three types of securities. Just under half of the outstanding ** trillion U.S. dollars as of May 2024 were in the form of treasury notes. The notes have varying maturities and coupon payment frequencies, which are different from the maturity periods of treasury bills and bonds. Main foreign holders of U.S. treasury securities Foreign holdings of U.S. treasury debt amounted to ***** trillion U.S. dollars as of January 2024. Japan and China held the largest portions, with China possessing ***** billion U.S. dollars in U.S. securities. Additionally, other significant foreign holders included oil exporting countries and Caribbean banking centers.

The major foreign holders of U.S. Treasury securities are typically countries and entities that invest heavily in U.S. government debt. As of the latest data, here are some of the top foreign holders:

Japan: Historically, Japan has been the largest holder of U.S. Treasury securities. China: China is another major holder, though its holdings have fluctuated due to various economic and political factors. United Kingdom: The UK is a significant investor in U.S. Treasuries, often ranked among the top holders. Ireland: Ireland holds a substantial amount of U.S. Treasury securities. Luxembourg: Luxembourg is also a notable holder of U.S. Treasuries. Switzerland: Swiss investments in U.S. Treasury securities are considerable. Brazil: Brazil is one of the largest holders in Latin America. Belgium: Belgium, often through its financial institutions, holds a significant amount. Taiwan: Taiwan's central bank and other financial institutions invest heavily in U.S. Treasuries. Hong Kong: Hong Kong maintains substantial holdings in U.S. Treasuries. These rankings can change frequently based on economic conditions, currency reserves, and geopolitical factors. For the most up-to-date information, refer to the U.S. Department of the Treasury's "Major Foreign Holders of Treasury Securities" report.

The statistic shows the national debt of Japan from 2020 to 2024, with projections up until 2030. The amount of Japan's national debt in 2024 amounted to about 1,436.5 trillion yen. In a ranking of debt to GDP per country, Japan is thus currently ranked first. Japan's economic power With one of the largest gross domestic products (GDP), Japan is among the largest economies in the world. However, ever since the global financial crisis, Japan's GDP - like many others - has been slightly unstable; Japan even reported a negative GDP growth in comparison to the previous year in 2011 and in 2014. Still, it is estimated that gross domestic product in Japan will continue to thrive over the next decade. One indicator is Japan's inflation rate: Despite the aforementioned economic slumps, Japan has managed to maintain one of the lowest inflation rates in the world, and it also reduced its unemployment rate. Between 2010 and 2013, the unemployment rate in Japan decreased by approximately one percent, and it is expected to drop even lower over the next years. Recently, Japan has been reporting a trade deficit, meaning the value of its imports exceeds the value of its exports. Most of these imports have come from China and the United States. The trade deficit is one of the causes for in an increase of the national debt. It is estimated that the national debt in relation to the GDP will increase further until 2020.

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Debt Financing Market Size 2025-2029

The debt financing market size is forecast to increase by USD 7.89 billion at a CAGR of 6.4% between 2024 and 2029.

The market is experiencing significant growth, driven by the tax advantages of debt financing for businesses. The ability to deduct interest payments from taxable income makes debt financing an attractive option for companies seeking capital. Another key trend in the market is the increasing collaboration and mergers and acquisitions (M&A) activity, which often involves the use of debt financing to fund transactions. However, it is important to note that collateral may be necessary for some forms of debt financing, adding layer of complexity to the process.
Companies seeking to capitalize on these opportunities must navigate the challenges of securing adequate collateral and managing debt levels to maintain financial health and wellness. Effective debt management strategies, such as optimizing debt structures and maintaining strong credit ratings, will be essential for companies looking to succeed in this dynamic market. Debt financing is a significant component of the regional capital markets, with financial institutions, banks, and insurance companies serving as major players.

What will be the Size of the Debt Financing Market during the forecast period?

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The market encompasses various debt instruments issued by entities to secure funds for business operations and growth. Market dynamics are influenced by several factors, including interest rate cycles, monetary policy, and economic growth. Basel Accords and the Financial Stability Board set standards for financial institutions' risk management and capital adequacy, impacting debt issuance. Government debt, securitization transactions, and various debt instruments like interest rate swaps, loan-to-value ratios, and credit-linked notes, shape the market landscape. Market volatility, driven by factors such as business cycles, credit spreads, and risk appetite, influences investor sentiment. Debt sustainability, fiscal policy, and ESG investing are increasingly important considerations for issuers and investors.
Asset managers are focusing on leveraging technology and data analytics to improve operational efficiency and meet the evolving needs of investors. The market is, however, not without challenges, with regulatory compliance and interest rate risks being major concerns. Overall, the income asset management market in North America is poised for steady growth, driven by the demand for debt financing and wealth management solutions, and the increasing adoption of advanced analytics and ETFs.

How is this Debt Financing Industry segmented?

The debt financing industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Source

  Private
  Public


Type

  Long-term
  Short-term
  Long-term


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Italy
    Spain
    UK


  APAC

    China
    Japan
    South Korea


  Middle East and Africa



  South America

By Source Insights

The private segment is estimated to witness significant growth during the forecast period. Debt financing is a popular financing method for businesses seeking to expand operations while maintaining ownership. Private debt financing, in particular, has gained significant traction among financial specialists worldwide due to its importance in funding small- and mid-sized organizations globally. The demand for debt financing by startups has increased annually, leading to the sector's substantial growth over the last five years. This financing option's flexibility enables businesses to customize their financing solutions to address specific needs, making it an allure for numerous organizations. Private debt financing encompasses various instruments such as Real Estate Debt, Term Loans, Leveraged Buyouts, Asset Securitization, Infrastructure Financing, Loan Servicing, and more.

Financial Leverage, Debt Covenants, Credit Risk, and Interest Rate Risk are essential considerations in this sector. Hedge Funds, Collateralized Loan Obligations, High Yield Debt, and Investment Grade Debt are alternative investment areas. Private Equity, Syndicated Loans, Venture Debt, Bridge Financing, and Mezzanine Financing are also integral components. Financial Institutions offer various debt financing solutions, including Capital Markets, Expansion Financing, Growth Capital, Debt Refinancing, and Debt Consolidation. Financial Modeling, Return on Investment, and Risk Management are crucial aspects of debt financing. Debt Advisory, Financial Engineering, and Debt Capital Markets are essential services in this field. Small Business Loans, Supply Ch

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.

Sovereign Bonds Market Outlook

According to our latest research, the global sovereign bonds market size reached USD 26.8 trillion in 2024, reflecting the continued dominance of government debt securities in global capital markets. The market is projected to grow at a CAGR of 6.1% from 2025 to 2033, with the total market size expected to reach USD 45.8 trillion by 2033. This expansion is being driven by robust demand from institutional investors, persistent fiscal deficits, and the need for governments to fund large-scale infrastructure and social programs. The growth of the sovereign bonds market is also underpinned by the increasing integration of emerging economies into the global financial system, alongside heightened risk aversion among investors seeking safe-haven assets.

One of the primary growth factors for the sovereign bonds market is the heightened demand for low-risk investment vehicles, particularly during periods of global economic uncertainty. Sovereign bonds, issued by national governments, are widely regarded as among the safest asset classes due to their backing by the full faith and credit of the issuing state. As central banks in major economies maintain accommodative monetary policies and investors seek to hedge against market volatility, allocations to sovereign bonds have increased significantly. Furthermore, regulatory requirements for financial institutions, such as Basel III liquidity coverage ratios, have compelled banks and insurers to hold substantial amounts of high-quality liquid assets, further reinforcing demand for government securities.

Another critical driver is the substantial fiscal stimulus measures enacted by governments worldwide in response to economic disruptions, such as the COVID-19 pandemic and ongoing geopolitical tensions. These measures have led to a surge in sovereign debt issuance, as countries seek to finance stimulus packages, healthcare expenditures, and economic recovery programs. The sovereign bonds market has therefore become a vital conduit for channeling capital from global investors into public sector projects, supporting both economic stability and long-term development. Moreover, the growing prominence of green and social bonds within sovereign issuance programs reflects an increasing alignment between public finance and sustainable development objectives, broadening the market’s appeal to ESG-focused investors.

The sovereign bonds market also benefits from technological advancements and financial innovation, which have enhanced market transparency, accessibility, and efficiency. The digitalization of bond issuance and trading platforms has enabled a broader spectrum of investors, including retail participants, to access sovereign debt markets. Additionally, the adoption of electronic book-building processes and blockchain-based settlement systems has streamlined primary and secondary market operations, reducing transaction costs and settlement risks. These innovations are fostering greater market participation and liquidity, thereby strengthening the overall resilience and attractiveness of sovereign bonds as a core asset class.

Regionally, the sovereign bonds market exhibits considerable diversity in terms of issuance volumes, investor bases, and yield dynamics. North America and Europe remain the largest markets, accounting for the majority of outstanding sovereign debt, driven by the United States, Germany, France, and the United Kingdom. However, the Asia Pacific region is witnessing the fastest growth, fueled by the rising fiscal needs of China, Japan, India, and Southeast Asian economies. Emerging markets in Latin America and the Middle East & Africa are also increasing their presence, albeit from a lower base, as they tap international capital markets to finance development initiatives. This regional diversification is contributing to a more balanced and resilient global sovereign bonds market.

Type Analysis

The sovereign bonds market is characterized by a wide array of bond types, each tailored to meet specific

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Debt Collection Software Market Size 2025-2029

The debt collection software market size is valued to increase by USD 3.01 billion, at a CAGR of 8.8% from 2024 to 2029. Rise in non-performing loans (NPLs) will drive the debt collection software market.

Market Insights

APAC dominated the market and accounted for a 43% growth during the 2025-2029.
By Deployment - On-premises segment was valued at USD 3.01 billion in 2023
By Industry Application - Small and medium enterprises segment accounted for the largest market revenue share in 2023

Market Size & Forecast

Market Opportunities: USD 89.16 million 
Market Future Opportunities 2024: USD 3009.80 million
CAGR from 2024 to 2029 : 8.8%

Market Summary

The market witnesses significant growth due to the increasing incidence of non-performing loans (NPLs) worldwide. Businesses across industries are turning to advanced technologies to streamline their debt collection processes and mitigate financial losses. One real-world scenario involves a global manufacturing company aiming to optimize its supply chain by reducing outstanding debts. By implementing a robust debt collection software solution, the company can automate communication with debtors, integrate credit risk assessment tools, and implement workflow automation to expedite the collection process. The integration of advanced technologies, such as artificial intelligence (AI) and machine learning (ML), is a key trend in the market. These technologies enable predictive analytics, allowing businesses to identify potential debtors at risk and proactively engage with them. Furthermore, cloud-based solutions offer scalability and flexibility, enabling businesses to manage their debt collection operations more efficiently. Despite the benefits, the high cost of debt collection software remains a challenge for small and medium-sized enterprises (SMEs). However, as competition intensifies and regulatory requirements become more stringent, investing in a comprehensive debt collection solution becomes increasingly essential for businesses to maintain financial health and operational efficiency.

What will be the size of the Debt Collection Software Market during the forecast period?

Get Key Insights on Market Forecast (PDF) Request Free SampleThe market continues to evolve, offering advanced solutions to streamline regulatory compliance checks, customer relationship management, dispute resolution process, and payment schedule optimization for businesses. One significant trend in this market is the integration of automated collection letters, payment reminder systems, and collection agency interfaces, enabling collection team productivity and call tracking. These tools have proven effective in improving collection efficiency, reducing payment processing fees, and enhancing debt recovery strategies. For instance, companies have reported a 25% increase in recovery rates by implementing automated dunning processes and advanced reporting features. Furthermore, debt portfolio analysis, account reconciliation tools, and risk mitigation strategies have become essential components of debt collection software, ensuring payment plan management and legal hold management are seamlessly integrated. Additionally, fraud detection systems and legal case management tools provide an extra layer of security, safeguarding against data breaches and ensuring compliance with evolving regulations. By investing in these solutions, businesses can optimize their collection agency workflow, improve customer communication channels, and ultimately boost their bottom line.

Unpacking the Debt Collection Software Market Landscape

In the debt collection industry, businesses increasingly leverage advanced software solutions to streamline operations, optimize strategies, and ensure regulatory compliance. One key area of focus is credit bureau integration, which enables real-time access to consumer credit information for informed collection decisions. Another critical aspect is collection strategy optimization, resulting in a 15% increase in recovery rates on average. Additionally, regulatory compliance modules and reporting tools help align with legal requirements, reducing potential penalties and fines by up to 20%. Predictive analytics models and risk assessment scoring further enhance debt recovery platforms, enabling early warning systems to identify and address delinquent accounts before they escalate. Furthermore, customer data security, payment gateway integration, and financial institution integration ensure secure transactions and improved customer experience. Other essential features include audit trail logging, legal compliance features, dunning letter generation, agent performance tracking, accounts receivable automation, debt portfolio management, payment processing integration, and collection agency software. Overall, these s

The yield on China 30 Year Bond Yield rose to 2.09% on November 17, 2025, marking a 0.01 percentage points increase from the previous session. Over the past month, the yield has fallen by 0.15 points and is 0.22 points lower than a year ago, according to over-the-counter interbank yield quotes for this government bond maturity. This dataset includes a chart with historical data for China 30Y.

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Online Financing Platform For SMBs Market Size 2025-2029

The online financing platform for smbs market size is forecast to increase by USD 23.48 billion, at a CAGR of 21.4% between 2024 and 2029.

The market is experiencing significant growth, driven by the increasing trend of digital transformation in business financing. The surge in the number of small and medium-sized businesses (SMBs) worldwide is a key factor fueling this growth. These businesses are increasingly turning to online financing platforms for their funding needs due to the convenience, speed, and flexibility they offer. However, the market is not without challenges. Privacy and security concerns are a significant obstacle, as SMBs must ensure the protection of their financial data when using these platforms. Additionally, regulatory compliance and the need for transparency are crucial considerations for both financing platforms and SMBs. Navigating these challenges requires a robust security framework, clear communication, and a strong commitment to regulatory compliance. Companies seeking to capitalize on the opportunities in this market must prioritize these factors to build trust and confidence among their SMB clientele.

What will be the Size of the Online Financing Platform For SMBs Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2019-2023 and forecasts 2025-2029 - in the full report.
Request Free SampleThe online financing market for Small and Medium-sized Businesses (SMBs) continues to evolve, with dynamic market activities unfolding across various sectors. Entities offering lines of credit, financial statements analysis, decisioning engines, real estate financing, equipment financing, automated underwriting, risk assessment, invoice financing, and online application processes are seamlessly integrated into comprehensive loan management systems. These systems enable SMBs to access essential funding options, including working capital loans, startup funding, and growth capital, through digital lending platforms. Fraud prevention measures, such as Anti-Money Laundering (AML) protocols, are also integrated into these systems to ensure secure transactions. The ongoing development of digital lending platforms encompasses API integration, mobile lending apps, and loan origination, enabling SMBs to apply for loans and manage their portfolios online. Credit reports, loan amortization, interest rates, and debt financing are assessed through credit scoring and cash flow projections. Entities providing loan servicing, merchant cash advances, venture capital, equity financing, debt collection, business plans, and due diligence contribute to the evolving landscape of online financing for SMBs. The integration of data encryption and data privacy measures further enhances the security of these platforms, ensuring that sensitive business information remains protected. As market dynamics continue to shift, the online financing market for SMBs will remain a vital source of growth capital and essential funding solutions.

How is this Online Financing Platform For SMBs Industry segmented?

The online financing platform for smbs industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments. TypeEquity financingDebt financingServiceBank-led online lending platformsAlternative lenders and fintech platformsPeer-to-peer (P2P) lendingEnd-userInterest-based revenueTransaction feesReferral and partnership feesPlatformPeer-to-Peer LendingBank-AffiliatedIndependent PlatformsGeographyNorth AmericaUSMexicoEuropeFranceGermanyItalySpainUKMiddle East and AfricaUAEAPACAustraliaChinaIndiaJapanSouth KoreaSouth AmericaBrazilRest of World (ROW)

By Type Insights

The equity financing segment is estimated to witness significant growth during the forecast period.The online financing market for Small and Medium-sized Businesses (SMBs) is witnessing significant activity and evolving trends. Equity financing, which involves selling an ownership interest of a business in exchange for capital, held the largest market share in 2024. However, the process of securing equity financing is challenging, as finding investors willing to buy the business is a significant hurdle. The amount of equity financing a borrower takes also impacts their management control and future sale options. Digital lending platforms and online application processes streamline the loan origination process, enabling quicker access to various financing options. These include working capital loans, merchant cash advances, lines of credit, and term loans. Credit reports and credit scoring are crucial components of the decisioning engines used by these platforms to assess risk and make informed lending decisions. Real estate financing, equi

Long-Term-Debt Time Series for Coupang LLC. Coupang, Inc., together with its subsidiaries, owns and operates retail business through its mobile applications and internet websites in South Korea and internationally. It operates through Product Commerce and Developing Offerings segments. The Product Commerce segment includes Korean retail and marketplace offerings; Rocket Fresh, a fresh grocery offering; and advertising products. The Developing Offerings segment offers Coupang Eats, a restaurant ordering and delivery service; Coupang Play, an online content streaming service; fintech activities; and Farfetch, a luxury fashion marketplace. It also performs operations and support services in the United States, South Korea, Taiwan, Singapore, China, Japan, and India. Coupang, Inc. was incorporated in 2010 and is headquartered in Seattle, Washington.

As of February 2023, the Japanese car manufacturer Toyota was the company with the highest debt worldwide, amounting to *** billion U.S. dollars. The Chinese property developer Evergrande followed in second with a debt of roughly *** billion U.S. dollars, with Volkswagen following in third.