Foreign investors sold a record amount of U.S. Treasury bonds and notes for the month of April, according to U.S. Treasury Department data on Wednesday, as investors priced in a few more rate increases by the Federal Reserve this year. Foreigners sold $74.6 billion in U.S. Treasury debt in the month, after purchases of $23.6 billion in March.

April’s outflow was the largest since the U.S. Treasury Department started recording Treasury debt transactions in January 1978. Private offshore investors sold $59.1 billion in U.S. government bonds, while foreign official institutions, which include central banks, sold $12.3 billion. READ MORE