中国3月减持美债；特朗普继续发话 事关俄乌战争、沃尔玛涨价、美联储

Group 1: US Treasury Bonds - In March, foreign holdings of US Treasury bonds surged to a record high of $9.05 trillion, an increase of over $233 billion from February's $8.81 trillion, marking a nearly 12% year-over-year growth [2] - China reduced its holdings of US Treasury bonds in March to $765.4 billion, down from $784.3 billion in February, while Japan increased its holdings to $1.13 trillion, a growth of approximately 0.4% [3][4] - The trend of declining US Treasury bond holdings by Chinese investors has been ongoing since 2018, with the UK surpassing China to become the second-largest foreign holder of US debt for the first time in over 20 years [4] Group 2: Economic and Trade Developments - Analysts suggest that the demand for US Treasury bonds may change in April due to a significant trade shock initiated by the Trump administration, which led to a surge in effective tariff rates and a subsequent sell-off of US bonds [2] - Following Trump's announcement to pause tariff increases for 90 days, the Treasury bond market stabilized, although foreign investors may remain cautious about US assets [2] Group 3: Corporate Responses and Economic Commentary - Walmart has warned of price increases due to tariffs and economic turmoil, with CFO John David Rainey indicating that price hikes will become more apparent starting in May [7] - Trump criticized Walmart for attributing price increases to tariffs, suggesting that the company should absorb the costs instead of passing them onto consumers [7] - Trump expressed a consensus that the Federal Reserve should lower interest rates sooner rather than later, criticizing Fed Chair Jerome Powell for being slow to act [8]