BREAKING: Foreign holdings of US Treasuries rose +$3.9 billion in April, to $9.35 trillion, the 2nd-highest on record. Japan, the largest foreign holder, raised its holdings +$18.3 billion, to $1.21 trillion, the highest since February. The UK, the 2nd-largest holder, added +$10.6 billion, to a record $937.5 billion. China, the 3rd-largest holder, cut its holdings by -$1.2 billion, to $651.1 billion, the lowest since September 2008. This also marks China's 3rd consecutive monthly decline, totaling -$43.3 billion. Meanwhile, Canada, the 7th-largest foreign holder, cut its holdings by -$42.3 billion, to $397.1 billion, the lowest since January. The US Treasury market is growing but remains fragmented.(The Kobeissi Letter)