Live Updates > Live Update Details
2026-09-18 20:30:12
[The proportion of US Treasury bonds held by foreign official entities continues to decline, putting market confidence to the test] ⑴ The proportion of US Treasury bonds held by foreign central banks, governments, and other official institutions has fallen to approximately 13%, the lowest level this century. ⑵ This proportion has halved in the past seven years, with the long-term downward trend beginning during the 2008 financial crisis. ⑶ At that time, the proportion was approximately 39%, and it has been on a continuous downward trend since then. ⑷ From February to July this year, foreign official holdings of US Treasury bonds decreased by approximately $237 billion, falling to $3.77 trillion. ⑸ This level is the lowest since January 2025, indicating a weakening willingness of official investors to allocate assets. ⑹ From a market sentiment perspective, confidence in US government debt is declining, with supply pressure and fiscal prospects becoming the focus of attention. ⑺ If official holdings continue to shrink, long-term interest rates and term premiums may face additional upward pressure. ⑻ Overall, this shift in the demand structure for US Treasury bonds warrants continued monitoring.
