美债风云突变，中国减持189亿美元遭英国超越！全球持仓额破9万亿

Core Viewpoint - The latest TIC report from the U.S. Treasury reveals significant changes in foreign holdings of U.S. Treasury securities, with the U.K. surpassing China to become the third-largest holder of U.S. debt, highlighting a shift in global investment patterns [1][6]. Group 1: Changes in U.S. Treasury Holdings - As of March 2025, China reduced its U.S. Treasury holdings by $18.9 billion, bringing its total to $765.4 billion, despite this amount being higher than in January 2025 and December 2024 [1]. - The U.K. increased its holdings by $29 billion in March, reaching $779.3 billion, thus overtaking China [1][6]. - Japan remains the largest foreign holder of U.S. debt, with a total of $1.1308 trillion after increasing its holdings by $4.9 billion [1][5]. Group 2: Other Notable Holders - The Cayman Islands showed a significant increase, adding $37.5 billion to reach $455.3 billion, raising questions about the origins of these holdings due to the Cayman Islands' small economy [3]. - Other countries, including Canada, Luxembourg, Belgium, France, and Ireland, also increased their holdings, contributing to a global total that surpassed $9 trillion for the first time, reaching $9.05 trillion [4][5]. Group 3: Strategic Implications - The U.K.'s increase in U.S. Treasury holdings is attributed to its strategic relationship with the U.S., which has resulted in favorable trade agreements, including significant reductions in tariffs [6]. - In contrast, China's strategy involves gradually reducing its U.S. Treasury holdings to diversify its foreign exchange reserves, which total approximately $3.2 trillion [8]. - China's reduction in U.S. debt holdings can also be viewed as a financial leverage tool in its negotiations with the U.S., although it is unlikely to engage in large-scale sell-offs in the short term [10].