Group 1: U.S. Treasury Holdings Overview - As of March, foreign countries and regions held $90,495 billion in U.S. Treasury securities, with a month-over-month increase of $2,331 billion [1] - Japan remains the largest foreign holder of U.S. debt, increasing its holdings by $49 billion to $1,130.8 billion, marking the third consecutive month of increases [1][7] - China reduced its holdings by $189 billion, bringing its total to $765.4 billion, the lowest level since 2009 [2][5] Group 2: Changes in Major Holders - The United Kingdom increased its U.S. Treasury holdings by $289 billion to $779.3 billion, surpassing China to become the second-largest holder [2][6] - In March, total net inflows into U.S. securities and bank cash from overseas reached $2,543 billion, with private funds contributing $2,592 billion and official funds experiencing a net outflow of $49 billion [3][4] Group 3: Investment Trends and Motivations - In March, overseas net purchases of U.S. long-term securities amounted to $1,832 billion, with private investors net buying $1,460 billion and official institutions net buying $373 billion [4] - Japan's motivations for increasing its U.S. Treasury holdings include currency intervention, leveraging its holdings in trade negotiations, and adjustments in monetary policy [8][9][10] Group 4: U.S. Fiscal Challenges - Moody's downgraded the U.S. sovereign credit rating from Aaa to Aa1, citing increasing budget deficits and rising costs of debt refinancing under high interest rates [13][14] - The U.S. federal debt has surpassed $36 trillion, with a fiscal deficit exceeding $1.3 trillion in the first half of the fiscal year, marking the second-highest deficit on record [17]

据 央 视 财 经 报 道 ， 国 际 信 用 评 级 机 构 穆 迪 1 6 日 宣 布 ， 由 于 美 国 政 府 债 务 和 利 息 支 付 占 比 增 加，决定将美国主权信用评级从Aa a下调至Aa 1。 穆迪表示，美国政府债务和利息支付占比在过去十余年持续上升，导致其财政表现"相对于自 身历史及其他高评级主权国家可能恶化"。穆迪指出，历届美国政府都未能扭转巨额年度财政 赤字和利息成本不断上升的趋势，并且认为美国国会正在审议的2 0 2 6财年财政提案不会带来 强制性支出和赤字的实质性缩减。 穆迪预计， 未来1 0年，随着福利支出的增加，美国政府收入基本保持不变，财政赤字将进一 步扩大。 据央视财经援引美国媒体报道，穆迪的这一决定意味着美国已被三大评级机构全部降级，此 前标普和惠誉公司分别在2 0 11年和2 0 2 3年将美国的信用评级从AAA下调至AA+。 据央视财经报道，当地时间5月1 6日， 美国白宫批评国际信用评级机构穆迪当天下调美国主 权信用评级的决定，称其为"政治决定"。 白宫通讯主任张振熙在社交媒体平台上对此说法进行了反击。他称穆迪这份报告的一名作者 是"奥巴马的顾问和希拉里·克林顿的 ...

Core Viewpoint - The article discusses the recent downgrade of the United States' credit rating by Moody's, marking the first time all three major credit rating agencies have downgraded the U.S. from its previous AAA status due to rising government debt and fiscal challenges [1][2]. Group 1: Credit Rating Downgrade - Moody's has downgraded the U.S. sovereign credit rating from Aaa to Aa1, with a stable outlook, following similar actions by S&P and Fitch [1][2]. - The downgrade is primarily attributed to increasing government debt and the rising proportion of interest payments relative to revenue [2][5]. Group 2: Fiscal Deficits and Debt Levels - The U.S. fiscal deficit has approached $2 trillion annually, with total nominal debt exceeding $36 trillion, representing over 6% of GDP, which is the highest in peacetime history [2][5]. - The U.S. Treasury Secretary acknowledged that the country is on an unsustainable fiscal path, with projections indicating that the federal deficit could reach nearly 9% of GDP by 2035 [5][7]. Group 3: Rising Interest Costs - High interest rates have led to increased debt servicing costs, with net interest expenditures expected to rise by approximately 130% by 2024 compared to 2019 levels [5][8]. - The average interest rate on outstanding U.S. debt is projected to be 3.324% in 2024, with total debt burden reaching 98% of GDP [5][8]. Group 4: Economic Implications - The trade war initiated by Trump has resulted in weakened economic conditions, leading to decreased consumer spending and increased corporate costs, which in turn affects government revenue and debt repayment capacity [8][11]. - The Yale Budget Lab estimates that proposed tax legislation could increase government debt by $3.4 trillion over the next decade, potentially reaching $5 trillion if certain temporary provisions are extended [8][12]. Group 5: Market Reactions - Following the downgrade announcement, the S&P 500 index ETF experienced a decline of over 1%, while the yield on the 10-year U.S. Treasury bond rose from 4.44% to above 4.48% [13][15]. - The article suggests that rising bond yields could lead to increased pressure on the U.S. government to address fiscal challenges, potentially impacting future economic policies [15].

数据显示，美国联邦政府债务总额目前已超过36万亿美元，仅今年6月就有6.5万亿美元的国债到期。美 国财政部数据显示，2025财年上半年，美国联邦政府财政赤字已超过1.3万亿美元，为半年度历史第二 高。 此外，由于美国新一届政府上任以来对贸易伙伴滥施关税措施，美自身经济也受到显著拖累。美国商务 部数据显示，今年一季度美国GDP环比按年率计算萎缩0.3%。这是2022年以来美国经济的最差季度表 现。分析人士指出，长期来看，美关税政策持续将加剧经济不确定性，可能导致通胀和失业率上升，关 税对美国经济的冲击效应未来可能进一步显现。 （文章来源：新华社） 新华财经纽约5月17日电 国际信用评级机构穆迪公司16日宣布，由于美国政府债务及利息支出增加，该 机构决定将美国主权信用评级从Aaa下调至Aa1，同时将其评级展望从"负面"调整为"稳定"。 由于惠誉和标准普尔已分别于2023年和2011年下调美国主权信用评级，美国在三大主要国际信用评级机 构中的主权信用评级均失去了Aaa的最高等级。 穆迪认为，美政府当前财政支出计划无法让强制性支出和赤字在未来出现实质性减少。该机构预计，如 果不调整税收和支出，美国预算灵活性仍将有限， ...

当地时间5月16日，由共和党主导的美国众议院预算委员会否决了一项涵盖税改和医保调整的特朗普政 府法案。据悉，这项法案价值数万亿美元。五位共和党内保守派强硬派与所有民主党议员一同投下反对 票。 国际信用评级机构穆迪16日宣布，由于美国政府债务和利率支付比例增加，该机构决定将美国主权信用 评级从Aaa下调至Aa1，同时将美国主权信用评级展望从"负面"调整为"稳定"。综合上述美媒报道，白 宫发言人库什·德赛在一份声明中将此归咎于拜登政府："特朗普政府和共和党正致力于解决拜登留下的 烂摊子，削减政府中的浪费、欺诈和滥用职权……如果穆迪还有信誉，他们就不会在过去四年的财政灾 难爆发时保持沉默。" 不过，美民主党领袖舒默则称，穆迪此举"应该为特朗普和国会共和党人敲响警钟，让他们停止不计后 果地推行赤字减税政策"。"如今的共和党根本不关心赤字和我们国家的财政健康状况，"舒默在一份声 明称，"共和党人一心想为超级富豪减税数万亿美元，这只会导致物价上涨、债务增加和就业岗位减 少。" 【环球网报道 记者 李飒】据美国全国广播公司（NBC）、美国政治新闻网等美媒16日报道，穆迪下调 美国主权信用评级后，白宫将矛头指向拜登政府，称" ...

Core Viewpoint - Moody's downgraded the U.S. credit rating from Aaa to Aa1, marking the first time all three major rating agencies have rated the U.S. below AAA, coinciding with Republican efforts to pass Trump's tax reform plan [1][2][4] Group 1: Credit Rating Downgrade - Moody's announced the downgrade on May 16, following a failed vote in the House Budget Committee on Trump's tax reform proposal, known as the "Beautiful Bill" [1][3] - The downgrade reflects concerns over increasing structural deficits, with Moody's warning that the proposed tax reform could add approximately $4 trillion to the deficit over the next decade [4][5] Group 2: Market Reactions - Following the downgrade, U.S. stock index futures fell, and Treasury yields rose, indicating a negative market reaction [2][5] - Analysts believe the downgrade could lead to a market pullback, as it adds to existing uncertainties regarding fiscal policy and economic conditions [5][7] Group 3: Political Context - The timing of the downgrade is seen as significant, occurring just hours after hardline Republicans blocked the tax reform proposal, highlighting the political tensions within the party [3][4] - The failed proposal aimed to extend tax cuts from the 2017 Trump administration, but faced opposition from within the Republican ranks, particularly regarding cuts to Medicaid and green energy tax credits [4]

穆迪下调美国主权信用评级。 国际信用评级机构穆迪16日宣布，由于美国政府债务和利率支付比例增加，该机构决定将美国主权信用评级从 Aaa下调至Aa1，同时将美国主权信用评级展望从"负面"调整为"稳定"。 此前，惠誉评级（Fitch Ratings）和标普全球评级（S&P Global Ratings）已将美国评级调至AAA以下，穆迪的 这一决定这意味着美国已被三大评级机构全部降级。 穆迪下调美国主权信用评级 当地时间5月16日盘后，国际信用评级机构穆迪宣布，将美国主权信用评级从Aaa下调至Aa1，同时将美国主权 信用评级展望从"负面"调整为"稳定"。 穆迪认为，此次下调反映了十多年来美国政府债务和利率支付比例的上升，这一水平显著高于同等评级的主权 国家。穆迪分析师在声明中称："美国历届政府和国会未能就扭转年度巨额财政赤字和利息成本上升趋势的措 施达成一致。我们认为，当前正在考虑的财政提案不会带来强制性支出和赤字的多年实质性削减。" 穆迪预计，美国联邦政府赤字将扩大，到2035年达到GDP的近9%，高于2024年的6.4%，主要受债务利息支付 增加、福利支出上升和收入相对较低的推动。预计美国联邦债务负担到2035 ...

美国彻底告别顶级AAA信评俱乐部 金十数据5月17日讯，穆迪下调美国的主权信用评级，从"Aaa"下调一级至"Aa1"， 成为最后一家摘除美 国顶级AAA信评的三大信评机构。穆迪表示，"美国历届政府和国会都未能就扭转年度巨额财政赤字和 利息成本增长趋势的措施达成一致。"特朗普的前高级经济顾问、传统基金会经济学家斯蒂芬·摩尔称此 举 "离谱"。他说："如果美国支持的政府债券不是AAA级资产，那么什么才是呢？"白宫通讯主任批评 穆迪经济学家赞迪的政治立场是反特朗普，称没人把他的'分析'当一回事。他已经多次被打脸。美国参 议院少数党领袖舒默发表声明称："穆迪下调美国的信用评级，应该给特朗普和国会共和党人敲响警 钟，让他们停止不计后果地推行加重赤字的税收优惠政策。"对冲基金Tolou资本管理首席执行官Spencer Hakimian表示，如果没有经济面消息可以增加对美债的避险需求，长期美债收益率可能会因这个降级消 息而走高。 ...

Core Viewpoint - Moody's has downgraded the United States' credit rating from AAA to AA1, citing increasing government debt as the primary reason [1] Summary by Relevant Categories Credit Rating - The downgrade reflects concerns over the rising government debt levels [1] - The new rating of AA1 indicates a significant shift in the perception of the U.S. creditworthiness [1] Debt Projections - By 2035, the federal debt burden is projected to rise to 134% of GDP [1] - The federal government deficit is expected to reach 9% of GDP by 2035 [1]

Core Insights - Brera Holdings is focused on expanding its global portfolio of men's and women's sports clubs through a multi-club ownership (MCO) strategy, and it commented on the imminent IPO filing of Eagle Football Holdings, a $2 billion MCO led by John Textor [2][4] - Eagle Football Holdings holds a 40% share in Crystal Palace and controlling stakes in clubs such as Lyon, Botafogo, and Molenbeek [3] - Brera Holdings aims to align its operations with sustainable football investment models, reflecting a broader industry trend towards long-term value creation [5][6] Company Developments - Brera Holdings has been expanding its portfolio, including the acquisition of a 90% stake in North Macedonian team Fudbalski Klub Akademija Pandev, now known as Brera Strumica FC, and a strategic investment in Manchester United PLC, realizing a 74% gain [8] - The company executed an agreement to acquire a majority stake in S.S. Juve Stabia, marking a significant expansion of its MCO model, with a current 38.46% equity ownership interest [9] - Brera Holdings has established itself as a leader in the global sports industry, focusing on innovation-driven growth and socially impactful outcomes [9]