海外需求有韧性！外国投资者5月增持美债，加拿大购买激增

Core Insights - Foreign investors significantly increased their holdings of U.S. Treasury securities in May, particularly from Canada, indicating resilient demand despite market concerns over the Trump administration's policies [1] - The total amount of U.S. Treasuries held by foreign investors reached $9.05 trillion in May, an increase of $32.4 billion from April, nearly offsetting the previous month's decline [1] - The TIC data reflects the demand for U.S. Treasuries amid ongoing trade tensions and tariff implementations, with over 30% of U.S. debt held by foreign entities [1] Summary by Category Foreign Holdings - Japan's holdings of U.S. Treasuries increased by $0.5 billion to $1.135 trillion, marking the fifth consecutive month of growth [2] - The United Kingdom's holdings rose by $1.7 billion to $809.4 billion in May [3] - Mainland China's holdings decreased by $0.9 billion to $756.3 billion, continuing a trend of holding below $1 trillion since April 2022 [4] - Canada emerged as a major buyer, increasing its holdings by $61.7 billion to a record high of $430.1 billion [4] Market Dynamics - The TIC data indicates that foreign investors net purchased $318.5 billion in long-term U.S. securities in May, with private foreign investors contributing $287.5 billion [6] - U.S. residents reduced their net purchases of foreign long-term securities by $59.1 billion in May [6] - The overall net inflow of foreign capital into the U.S. in May was $311.1 billion, with private foreign inflows at $333.2 billion and official outflows at $22.1 billion [6]