美国对加挥关税棒，加拿大抛567亿美债反击，中国同步减持至08年水平

Core Viewpoint - Recent data from the U.S. Treasury reveals significant reductions in U.S. Treasury holdings by both Canada and China, indicating a potential shift in global financial dynamics and trust in U.S. fiscal stability [1][6]. Group 1: China's Actions - China's holdings of U.S. Treasuries have plummeted to $688.7 billion, reverting to levels not seen since 2008, signaling the end of an era of accumulating dollar wealth [3][6]. - The drastic reduction in holdings reflects a strategic withdrawal from reliance on U.S. debt, as China seeks alternative investment avenues [8][12]. Group 2: Canada's Actions - Canada sold off $56.7 billion in U.S. Treasuries in October, representing over 12.5% of its total holdings, marking a significant and aggressive move in the financial markets [3][4]. - This action is interpreted as a response to U.S. trade pressures and tariffs, indicating a shift in Canada’s approach to its financial relationship with the U.S. [4][10]. Group 3: Implications for U.S. Fiscal Health - The simultaneous reduction in Treasury holdings by both countries raises concerns about the erosion of trust in U.S. fiscal stability, particularly as the U.S. faces a staggering $37 trillion debt [6][14]. - The interest payments on U.S. debt have surged to an annualized rate of $1.1 trillion, highlighting the unsustainable nature of current fiscal practices [6][12]. Group 4: Global Trends in Investment - Central banks globally are increasingly moving away from U.S. Treasuries, with a notable shift towards gold reserves, as 95% of surveyed central banks plan to increase their gold holdings in the coming year [8][10]. - Even countries that maintain some U.S. Treasury holdings are adopting a cautious approach, favoring short-term bonds while avoiding long-term commitments, reflecting a lack of confidence in U.S. fiscal health [10][12].