“抛售美国”论调遭真实数据打脸! 随着美债上演大反攻 海外持仓徘徊于历史最高位

Core Insights - The latest data on U.S. Treasury holdings by foreign countries shows that the total amount held remains close to historical highs, indicating a slight decline from the record set in August, despite claims of "selling America" by some foreign institutions [1][2][6] - The U.S. Treasury market continues to attract significant investment, with a return of nearly 7% year-to-date, positioning it for one of the best years since 2020 [1][6] - Japan has increased its U.S. Treasury holdings to the highest level in over three years, while the UK has reduced its holdings [1][10] Summary by Category U.S. Treasury Holdings - As of September, foreign institutions held approximately $9.25 trillion in U.S. Treasuries, a slight decrease from $9.26 trillion in August, which was a historical peak [2][5] - The fluctuations in holdings are influenced by net buying or selling by major institutions and overall valuation changes, with the latter having a relatively minor impact [2] Market Dynamics - The "Bloomberg U.S. Treasury Index" recorded increases in both August and September, reflecting a positive trend in U.S. Treasury prices [2] - The expectation of interest rate cuts by the Federal Reserve and a decrease in borrowing costs have contributed to rising investment returns in U.S. Treasuries [1][6] Country-Specific Holdings - Japan remains the largest foreign holder of U.S. Treasuries, increasing its holdings by approximately $9 billion to $1.19 trillion, the highest level since August 2022 [9][10] - The UK has reduced its holdings by about $39.3 billion to $865 billion, while China's holdings decreased slightly by $500 million to $700.5 billion [10] - Belgium's holdings increased by approximately $12.5 billion, which may include some custodial accounts from China [10]