# US allies cut Treasury buying 60%; Korea sells record $23.8B

Quick Take · News · Published October 28, 2026 · By [Anthony Asuaje](https://walkeranthony.com/about/), Walker Strategies
Canonical URL: https://walkeranthony.com/news/us-allies-cut-treasury-buying-60-korea-sells-record-23-8b/

60% drop: US allies cut Treasury buying to $174.3B in Jan–Aug. Japan nearly stops, Korea sells record $23.8B. Pressure on yields, EM and Argentina.

US-aligned nations bought a net $174.3B of Treasuries (ex-bills) in Jan–Aug, down 60%+ y/y and the lowest since 2021.
Japan barely bought ($389M); Korea sold a record $23.8B. Less price-insensitive demand means a higher term premium.
Watch: 10Y yield, Treasury auctions, EM spreads incl. Argentina.

**Why it matters:** Losing steady allied demand means the US must pay more to fund its deficit. Higher Treasury yields tighten global credit and weigh on risk assets, EM debt included.

Source: [Bloomberg (via The Japan Times)](https://www.japantimes.co.jp/business/2026/10/28/companies/us-treasury-purchases-asia-60/)

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Educational and informational content only. I am not a licensed financial advisor and nothing here is investment advice. Do your own research before making any decision.