EU funds loaded up on US debt in 2019
European investment funds snapped up more US than eurozone debt in 2019.
Net purchases of US bonds hit €101.1 billion ($109.1 billion) last year, up +962% from €9.5 billion in 2018. In contrast, net purchases of eurozone bonds totalled €94.6 billion, up +65% on 2018.
US debt made up 22% of total EU fund debt holdings as of end-2019, a hair more than last year.
Over the course of 2019, funds bought a net €30.7 billion of eurozone bank debt, €1.5 billion of insurance and pension fund debt, €52
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