日美贸易谈判加速推进 日财长放话美债持仓或成谈判“筹码”

Core Viewpoint - Japan's significant holdings of U.S. Treasury bonds may serve as a bargaining chip in trade negotiations with the U.S., as stated by Japan's Finance Minister, Taro Kato [1][2] Group 1: Japan's Position on U.S. Treasury Bonds - Japan holds approximately $1.13 trillion in U.S. Treasury bonds, making it the largest foreign holder, followed by China with $784 billion [1] - Kato acknowledged that Japan's stance on not selling U.S. bonds could be used as a negotiation tool, although he did not indicate any intention to sell [1][2] - The discussion around Japan's bond holdings is seen as a serious matter, with potential market impacts even from mere threats of selling [1][2] Group 2: Trade Negotiations - Japan's chief negotiator, Ryosei Akazawa, is currently in Washington for the second round of trade talks, aiming to reach an agreement by June [1][3] - The discussions include topics such as expanding bilateral trade, non-tariff measures, and economic security cooperation [3] - There is no indication that currency reserves or related issues were discussed during the meetings, focusing instead on trade agreements [3] Group 3: Market Reactions and Historical Context - Previous comments by Japanese officials regarding U.S. bonds have been cautious due to potential market volatility, making Kato's remarks particularly noteworthy [2] - Historical context is provided by referencing former Prime Minister Ryutaro Hashimoto's past comments that led to significant market declines [2] - Analysts suggest that linking U.S. Treasury bonds to trade negotiations could lead to increased risks for U.S. bond investors if foreign investors begin to sell off [3]