中抛美债停不下来！不是瞎操作，是防美国冻资产的后手

Group 1 - The core point of the article highlights a significant decline in foreign holdings of U.S. Treasury bonds, particularly by China, which has dropped to $730.7 billion, the lowest level since 2008, indicating a directional withdrawal from U.S. debt [1][3][11] - The U.S. fiscal report for the first half of fiscal year 2025 shows a deficit of $1.307 trillion and net interest payments of $582 billion, reflecting increasing debt costs and raising concerns about fiscal sustainability [5][17][34] - The trend of decreasing U.S. Treasury holdings is accompanied by a simultaneous increase in gold reserves, with central banks globally net buying over 400 tons of gold, indicating a shift towards physical assets as a hedge against risks [9][21][28] Group 2 - The European Union's decision to use frozen Russian central bank assets for loans to Ukraine marks a significant shift in international financial practices, suggesting that political factors are increasingly influencing financial security [7][15][34] - The overall structure of foreign holdings in U.S. Treasury bonds is changing, with countries like Japan and the UK showing fluctuating positions while China continues to reduce its holdings [9][19][30] - The rising gold prices, which have surpassed $2,400 per ounce, contrast with the declining U.S. Treasury bond prices, indicating a market preference for gold as a safer asset amid increasing geopolitical tensions and financial uncertainties [24][26][36]