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purchase since at least 2016, according to Bloomberg’s analysis of US Treasury data. By contrast, the figures showed that countries least united with the US offloaded $125.24 billion of American debt last year, the most in six years.Most Read from BloombergLA’s Bankrupt ‘Graffiti Towers’ Finds Buyer for $470 MillionAn Insurance Expert Appraises the Safety Record of Self-Driving CarsNew Tax Proposal Takes Aim at Thailand’s Salty Food ObsessionOslo Rebuilds Its Government Quarter with a New Focus: OpennessIt’s a Tough Time To Be a Black Real Estate DeveloperNon-allies and neutral nations sold $673 billion of Treasuries between 2016 and 2025, while allies added to their reserves in all but one of those years. The pivot away from US government bonds has gained momentum as President Donald Trump’s unpredictable decision-making rattles investors, even though most market participants say US debt is likely to remain the world’s benchmark safe asset.While alignment can be subjective, in this analysis countries were classified as most-, least- and neutrally-aligned by looking at their voting behavior at the United Nations and seeing whether or not it tallied with the US. The assumption is that countries that vote the same way are more closely aligned and it’s an approach commonly used in academia to determine allies and adversaries.For example, long-time military ally Australia was classified as most-aligned, China as least, with America’s neighbor Mexico falling into the neutral bucket. The votes examined were those on key UN resolutions, based on data from the US Department of State.The concentration of holdings in the hands of foreign investors shows where the balance of power lies, and suggests that Trump can ill-afford to alienate his allies even as he seeks to reshape the world order. His push to gain control of Greenland last month sparked a flurry of speculation Europe might push back by “weaponizing” those holdings and dump them.“Antagonizing friend and foe is not a great idea for a net debtor nation – especially one with high deficits that need to be funded with foreign capital,” said Kathy Jones, chief fixed-income strategist at Charles Schwab. “It can drive up the cost and create some instability. In light of the use of sanctions, tariffs, rising deficits and general ‘America first’ policies – it’s not surprising that some countries are reducing dollar exposure.”Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoS&P 5006,883.48 -62.65 (-0.90%)Dow 3049,317.64 -164.51 (-0.33%)Nasdaq22,798.31 -353.76 (-1.53%)Russell 20002,653.63 -9.70 (-0.36%)VIX19.75 +1.82 (+10.16%)Gold5,197.50 -28.70 (-0.55%)Trending tickersNVDA NVIDIA Corporation 187.08 -8.55 (-4.37%)EOSE Eos Energy Enterprises, Inc. 7.17 -3.97 (-35.62%)IONQ IonQ, Inc. 40.22 +6.63 (+19.74%)AVGO Broadcom Inc. 313.19 -19.12 (-5.75%)NVAX Novavax, Inc. 11.15 +1.62 (+17.00%)PortfolioSign in to access your portfolioSign inTop gainersSEZL Sezzle Inc. 79.99 +17.37 (+27.73%)HPP Hudson Pacific Properties, Inc. 7.79 +1.43 (+22.48%)WRBY Warby Parker Inc. 26.34 +4.57 (+20.99%)IONQ IonQ, Inc. 40.32 +6.73 (+20.04%)LMAT LeMaitre Vascular, Inc. 108.80 +17.42 (+19.06%)Top losersEOSE Eos Energy Enterprises, Inc. 7.17 -3.96 (-35.60%)ACMR ACM Research, Inc. 56.70 -11.77 (-17.19%)CHE Chemed Corporation 389.99 -76.61 (-16.42%)FSK FS KKR Capital Corp. 11.19 -2.13 (-16.03%)FOUR Shift4 Payments, Inc. 48.89 -8.48 (-14.78%)Most activeNVDA NVIDIA Corporation 186.85 -8.78 (-4.49%)EOSE Eos Energy Enterprises, Inc. 7.17 -3.96 (-35.60%)NU Nu Holdings Ltd. 15.33 -1.32 (-7.96%)PLUG Plug Power Inc. 1.8633 -0.0467 (-2.45%)IONQ IonQ, Inc. 40.32 +6.73 (+20.04%)Top economic eventsEarnings eventsMy earnings eventsEarnings events