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Foreign holders sold as quickly as they could.
It means persuading foreign holders of existing Russian debt that they will not again be hammered.
Foreign holders prefer shorter maturities, so that could attract more domestic investment.
A new restructuring deal for foreign holders of rouble debt is dangled, then withdrawn.
In the past, news of a deficit this big would have alarmed foreign holders of sterling.
Banning it made it hard for many foreign holders to sell their Malaysian shares, trapping them in the market.
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That is cold comfort to China, the largest foreign holder of American debt.
Earlier this year, Japan finally surpassed China as the largest foreign holder of U.S. debt.
Japan is the largest foreign holder of Treasuries, accounting for $689 billion, followed by China, with $164.8 billion.
If Japan, the second-biggest foreign holder, starts selling, that's another support gone — with the potential to make borrowing more expensive for the federal government.
That raised its holdings to $790 billion, leaving it the largest foreign holder of Treasury securities — Japan is second at $757 billion and Britain a distant third at $278 billion.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com