中国再抛118亿美元美债！日本“十连增”

Core Insights - The U.S. Treasury Department's TIC report for October 2025 indicates a decline in foreign holdings of U.S. Treasury securities for the second consecutive month, with total holdings dropping to $9.243 trillion from $9.248 trillion in September, although this represents a 6.3% increase year-over-year [2][3]. Group 1: Major Foreign Holders - Japan remains the largest foreign holder of U.S. Treasury securities, increasing its holdings from $1.189 trillion in September to $1.2 trillion in October, marking the highest level since July 2022 and a continuous growth for ten months [2][3]. - The United Kingdom increased its holdings by $13.2 billion to reach $877.9 billion in October [3]. - China reduced its holdings by $11.8 billion, bringing its total to $688.7 billion, the lowest level since October 2008 [3][4]. - Canada experienced the most significant decline, with a drop of $56.7 billion to $419.1 billion [4]. Group 2: Overall Market Trends - The report highlights a net outflow of $37.3 billion in foreign funds for long-term and short-term U.S. securities and banking flows, with private foreign funds contributing a net outflow of $18.1 billion and official foreign funds a net outflow of $19.2 billion [6]. - Foreign residents increased their holdings of long-term U.S. securities, with a net purchase of $38.9 billion, driven by private investors who net purchased $49 billion, while official institutions sold $10.1 billion [6][7]. - U.S. residents increased their holdings of foreign securities with a net purchase of $21.4 billion [7].