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Kuwait picks up more US bonds

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KUWAIT CITY, Nov 19: Kuwait increased its holdings of US treasury bonds by 7.5 percent or $3.5 billion, reaching $49.9 billion in the first nine months of this year, compared to $46.4 billion at the end of December last year, reports Al-Rai daily. Data published on the US Treasury website showed that Kuwait increased its holdings of US bonds annually by $3.6 billion or 7.8 percent, compared to $46.3 billion in September last year; while it decreased by $1.1 billion or 2.1 percent monthly, compared to $51 billion in August.

The country diversifies its US bonds portfolio between short-term bonds at a value of $12.14 billion, while the largest proportion of long-term bonds valued at $37.77 billion. Successful movements of Kuwaiti investments in US bonds are manifested in the increase and decline of holdings by billions in recent months. These movements coincide with changes in the return on bonds, as well as the increase and decrease of Kuwaiti investments in US stock exchanges.