美国财政部在2025年4月16日放出了一份报告，里面记录了2月份海外投资者对美债的动向。 三大债主日本、中国、英国都加了码，日本增加466亿美元，总持仓11259亿美元稳坐头把交椅，中国跟上235亿美元，持仓升到7843亿美元，英国也添了101 亿美元，总持仓8094亿美元。 这消息一出，特朗普估计是喘了口气，因为他挥舞关税大棒，对中国商品征收高关税，试图逼中国让步买更多美国货，顺带填补美国堆积如山的财政窟窿。 美债市场当时正晃荡，利率上蹿下跳，投资者信心摇摆，这增持数据像一针镇静剂，让10年期美债收益率从4.588%降到4.306%，30年期从5%以上掉到 4.762%，美国政府少掏了不少利息钱。 2025年1月特朗普就职后，对全球商品开征关税，尤其是中国产品，关税一度推到125%，这让美国当月赤字暴增2300多亿美元，美债期货跌了5%，是2001 年"9·11"事件后最狠的一次。 他本意是通过关税挤压中国出口，换取中国多买美国债来缓解美国债务压力，美国上半年赤字就超1.3万亿，6月要还6.5万亿债。 中国增持235亿，看起来像是给了特朗普一个台阶，让他觉得中国在"示弱求和"。但实际情况没那么简单，美国经济 ...

Core Viewpoint - The article discusses the differences in investment experiences between the Chinese A-share market and the US stock market, highlighting the challenges of timing the market in A-shares compared to the more stable performance of US stocks [3][4][6]. Group 1: Market Performance Comparison - Over the past 20 years, the annualized returns of the CSI 300 and the S&P 500 have been similar, around 8%-9% [3]. - Despite similar returns, investors feel that making money in the US stock market is easier due to its relatively stable performance [4][6]. - The A-share market experiences significant volatility, with most returns concentrated in short bursts, making it difficult for investors to profit without precise timing [9][10]. Group 2: Challenges of Market Timing - Market timing is inherently difficult due to unpredictable short-term fluctuations influenced by sudden events, emotions, and policies [19]. - Successful market timing requires a strong psychological disposition, as it involves buying during significant downturns and selling during peaks, which is challenging for most investors [21][28]. - Ordinary investors lack the advantages that institutional investors have in terms of information, research capabilities, and tools, making it harder for them to time the market effectively [28]. Group 3: Strategies for Investment - To navigate the difficulties of market timing, the article suggests focusing on investment strategies that yield stable and consistent returns over time, reducing the need for precise timing [30][32]. - A diversified approach across different assets and strategies can help ensure that some components of the portfolio remain effective regardless of market conditions, leading to smoother returns [39][47]. - The "Snowball Three-Point Method" is highlighted as a strategy that emphasizes asset diversification and the use of various fund strategies to mitigate risks and enhance long-term returns [47].

ABU DHABI/SINGAPORE, Dec 10 - Asian investors are piling into Gulf bonds and loans this year, reflecting both deepening trade and finance ties with the fast-growing region and an uncertain outlook elsewhere, including the world's top two economies, the United States and China. Bond issuance in ​the Middle East and North Africa region jumped 20% year-on-year to $126 billion in the first nine months of this year, according to LSEG data, ‌with full-year records in sight both for the region and broader emergi ...

美国国债代表什么？代表的是美国政府的借据。美国是全球最大的经济体，其国债被认为是"无风险资 产"。在全球金融市场上，美国国债可以随时买卖，没有难度。如果你持有其他国家的债券，你可能面 临流动性问题——想卖的时候卖不出去，或者要打很大的折扣。但美国国债不同，它就像货币一样可以 自由流通。 还有一个重要原因是美元的国际地位。美元是全球储备货币，我们做对外贸易，进行海外投资，都需要 用到美元。美国国债是以美元形式存在的，持有美国国债就等于持有了美元形式的资产。这对维护国家 金融安全有很大帮助。 现在回到一个更现实的问题：为什么最近在减持美国国债呢？ 根据美国财政部的数据，中国在2024年全年减持了573亿美元的美国国债。2025年上半年继续在减持。 这个转变反映了什么？官方和分析人士的解释大致有几个方面。 你有没有想过，我们国家为什么要花那么多外汇去买美国的国债？这就像是拿自己的钱去借给美国政 府，然后美国政府每年付我们一点利息。这个看起来很不划算的事，为什么一直在做呢？ 先说一个最直接的数据。根据美国财政部2025年2月的最新报告，中国持有的美国国债规模大约是7843 亿美元。这个数字听起来很大，但其实已经在持续 ...

当地时间12月3日，美国公布的11月私营部门就业岗位减少3.2万个，强化了市场对美联储即将降息的预期，推动贵金 属市场走强。 其他市场方面，LME三个月期锡价格涨至2022年5月以来新高，现货黄金小幅上涨。原油市场亦受带动，WTI原油价 格涨超1%。 有市场观点认为，黄金、白银和铜等大宗商品同步上涨，反映出部分投资者正基于降息预期及对美元购买力的考量， 积极寻求资产多元化。 在降息预期与供应担忧共同作用下，基础金属市场表现更为强劲。伦敦金属交易所（LME）三个月期铜价格日内一度 涨近3%，最高至每吨11435美元，刷新历史新高。上海期货交易所沪铜主力合约也站上每吨9万元人民币关口，同步创 出纪录。 铜价剧烈波动背后，是全球供应链的紧张与库存结构的失衡。数据显示，纽约商品交易所（COMEX）铜库存已突破 40万吨，较去年底激增超过300%，占全球三大交易所总库存的比例高达62%。分析指出，COMEX与LME之间的价差 持续存在，促使大量铜库存流入美国。这一囤货行为除关税预期因素外，亦包含战略考量，降低了全球市场的流动 性，放大了区域短缺风险。 供应端的脆弱性进一步凸显。由于智利产量增长乏力、非洲项目开发滞后以及 ...

Core Insights - The U.S. private sector employment decreased by 32,000 jobs in November, reinforcing market expectations for an imminent interest rate cut by the Federal Reserve, which has led to a surge in the precious metals market [3][9] - Silver prices reached an all-time high of $58.972 per ounce, with significant investor interest reflected in a 200-ton increase in silver-backed ETF holdings, marking the highest level since 2022 [3][9] Precious Metals Market - The expectation of interest rate cuts and supply concerns have strengthened the precious metals market, particularly silver [5] - The rise in silver prices has attracted investors, as evidenced by the substantial increase in ETF holdings [3][9] Base Metals Market - The London Metal Exchange (LME) three-month copper price surged nearly 3% to a record high of $11,435 per ton, while the Shanghai Futures Exchange's main copper contract also reached a historic level of 90,000 RMB per ton [5][11] - The volatility in copper prices is attributed to global supply chain tensions and inventory imbalances, with COMEX copper inventories exceeding 400,000 tons, a 300% increase from the previous year [5][11] - The ongoing supply chain pressures are exacerbated by factors such as stagnant production growth in Chile, delays in African project developments, and export restrictions from Indonesia [5][11] Market Dynamics - The simultaneous rise in prices of gold, silver, and copper indicates that investors are actively seeking asset diversification based on interest rate cut expectations and considerations of the dollar's purchasing power [6][12] - Morgan Stanley predicts that supply disruptions and inventory mismatches could drive copper prices to $12,500 per ton by mid-2026 [5][11]

Core Insights - The article discusses the importance of finding trustworthy financial advisors and highlights the prevalence of misleading financial advice in the market, particularly from social media influencers [2][3]. Group 1: Financial Advisory Services - Advisor.com offers a free service to help individuals find a financial advisor tailored to their needs, ensuring they receive trustworthy guidance [1]. - A 2024 survey by the Consumer Finance Institute revealed that 28.5% of individuals seeking financial advice turned to social media, indicating a significant reliance on potentially unreliable sources [2]. Group 2: Investment Strategies - Warren Buffett and Charlie Munger advocate for passive investing strategies, arguing that most investors struggle to outperform the market, making index funds a compelling choice [5][6]. - The S&P 500 has delivered an average annual return of over 10% since its inception, reinforcing the benefits of passive investment strategies [6]. Group 3: Alternative Investment Opportunities - Real estate investing is highlighted as a solid portfolio hedge, with platforms like Arrived allowing individuals to invest in rental properties without the responsibilities of property management [12][13]. - Fine art has been noted as an investment that consistently outperforms the stock market, with some contemporary art delivering an annual return of 11.5% from 1995 to 2023, compared to the S&P 500's 9.6% during the same period [16].

作为美国国债最大的海外持有国，日本的持仓增加了89亿美元，至1.19万亿美元，为2022年8月以来的 最高水平。 "最让我关注的是日本的动向，"道富银行（State Street）策略师李·费里奇（Lee Ferridge）表示，"增持 美国国债可能是日元持续走弱的一个因素，也可能表明尽管日本国内收益率上升，日本投资者仍对日本 国债持谨慎态度。" 近几个月来，日元兑美元汇率持续走弱，周二跌至2月以来的最低水平，同时也是今年十国集团 （G10）货币中表现最差的币种。 英国是美国国债第二大海外持有国，其持仓减少了393亿美元，至8650亿美元。 中国作为美国国债第三大海外持有国，9月持仓较前一月微降5亿美元，至7005亿美元。市场分析师表 示，比利时的持仓中包含中国的托管账户，该国9月持仓增加了125亿美元，至4668亿美元。 海外投资者持有的美国国债在8月创下历史新高后，9月仅出现小幅回落，其中英国减持，而日本的持仓 攀升至三年多来的最高水平。 9月，外国投资者持有的美国国债总额为9.25万亿美元，8月为9.26万亿美元。持仓变化受净买卖以及估 值变动影响，彭博美国国债指数在8月和9月均有所上涨。 美国财政部周 ...

Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. A person who hacked the X accounts of famous people, including former President Barack Obama and Amazon founder Jeff Bezos, has been ordered to pay back the Bitcoin (CRYPTO: BTC) gained from the crime, prosecutors said Monday. Stolen Bitcoin To Be Recovered The England and Wales’ Crown Prosecution Service said it has obtained a Civil Recovery Order to recover 42 Bitcoin and other cryptocurrencies that Jos ...

Core Viewpoint - The Future Fund of Australia highlights increasing risks of "more frequent and severe new shocks" to the global economy, prompting a shift in asset allocation towards gold, actively managed stocks, and hedge funds [1][3]. Group 1: Investment Strategies - The Future Fund has raised its allocation to gold and other commodities to provide asymmetric protection against supply-driven inflation and stagflation [3][4]. - The fund aims for long-term returns exceeding 4% to 5% above the consumer price index (CPI) while managing risk at an acceptable level [3]. - The report indicates a fundamental shift in the global investment landscape, characterized by increased uncertainty, rising inflation pressures, and heightened market volatility [3]. Group 2: Gold Demand and Price Projections - Global gold demand increased by 1% year-on-year in the first ten months of the year, reaching 3,717 tons, with a value increase of 41% to $384 billion [1]. - Goldman Sachs projects that gold prices could rise to $4,900 per ounce by the end of 2026, driven by private investors diversifying their portfolios with gold [1][6]. - Central banks are expected to continue significant gold purchases, with a projected average monthly purchase of 80 tons from Q4 2025 to 2026 [5]. Group 3: Central Bank Trends - A survey indicates that 64% of central banks plan to increase foreign exchange reserves, with 47% explicitly stating intentions to increase gold holdings as a strategic tool against geopolitical and financial risks [5]. - In the first three quarters of the year, global central bank gold demand reached 220 tons, a 28% increase from the previous quarter [5]. Group 4: Gold ETFs and Market Performance - Global physically-backed gold ETFs experienced net inflows for five consecutive months, with October's inflow reaching $8.2 billion, indicating strong annual performance [6]. - As of the end of October, total assets under management (AUM) for global gold ETFs grew by 6% to $503 billion, with holdings increasing by 1% to 3,893 tons [6]. - Major financial institutions have raised their gold price forecasts, with Bank of America projecting a target price of $5,000 per ounce by 2026 [6].