Core Viewpoint - The U.S. Treasury Department's May International Capital Flow Report indicates a significant increase in foreign investment in U.S. securities, highlighting ongoing demand for U.S. Treasury bonds despite recent geopolitical and economic uncertainties [1][4]. Group 1: Foreign Investment in U.S. Securities - As of May, foreign investors held a total of $9.0458 trillion in U.S. Treasury bonds, marking the second-highest level in history [1]. - In May, foreign investors net increased their holdings of U.S. securities by $311.1 billion, reversing a net reduction of $50.6 billion in April [1][4]. - The top three foreign holders of U.S. Treasury bonds as of May are Japan, the UK, and China, with China holding $756.3 billion, a decrease of $0.9 billion from the previous month [1][8]. Group 2: Changes in Long-term Securities - In May, foreign investors transitioned from a net reduction of $50.6 billion in long-term securities in April to a net increase of $318.5 billion, primarily driven by private foreign investments [4]. - Adjusting for stock swaps, foreign investors net reduced their holdings of U.S. long-term securities by $259.4 billion in May, a significant increase from the previous month's reduction of $7.8 billion [4]. Group 3: Trends in U.S. Treasury Holdings - China has reduced its holdings of U.S. Treasury bonds for three consecutive months, maintaining a level below $1 trillion since April 2022 [6][7]. - Other countries, including Luxembourg and the Cayman Islands, have increased their holdings of U.S. Treasury bonds, with Canada notably increasing its holdings by $61.7 billion in May [8].
中国连续3个月减持美国国债
证券时报·2025-07-18 08:00