利空突袭！美股、美债，突传大消息！

Group 1 - The Australian Retirement Trust (ART), the second-largest pension fund in Australia, has reduced its holdings in U.S. bonds due to concerns that Washington's policies may trigger inflation. The fund manages assets worth 330 billion AUD (approximately 216 billion USD) [1][4] - As of September 2, U.S. Treasury yields have risen, with the 10-year yield increasing by 7 basis points to 4.2984% and the 30-year yield rising by 6.7 basis points to 4.9883% [1] - ART's senior investment manager, Jimmy Louca, indicated that the fund is favoring investments in markets like the UK and Australia, citing concerns over the U.S. fiscal deficit and potential inflationary pressures from increased government spending [4] Group 2 - Hedge funds have maintained a cautious stance towards U.S. equities, with data showing they did not participate in the market's rise in August and continued to sell off positions [2][6] - On September 2, major U.S. stock indices experienced declines, with the Dow Jones down 0.55%, Nasdaq down 0.82%, and S&P 500 down 0.69%. Notably, large tech stocks like Nvidia and Amazon also saw declines [2] - Historical data indicates that nearly half of the years in the past 20 have shown negative returns for the U.S. stock market in September, raising concerns about potential sell-offs [8] Group 3 - Concerns over the independence of the Federal Reserve have increased following President Trump's pressure on the institution, leading to a widening gap between the yields of 5-year and 30-year U.S. Treasuries, reaching the highest level since 2021 [5] - UBS reported that the current direct stock holdings of U.S. investors relative to their income have reached a historical high, with projections indicating that by 2025, this ratio could reach 265% of disposable income [9]