On September 11, the US 10-year Treasury yield approached the critical 5% mark. US Treasury yields continued to rise, and market concerns about the US fiscal outlook and debt burden continued to heat up. Recently, the Norwegian sovereign wealth fund plans to adjust the asset allocation of government bonds, including reducing the holdings of US Treasury bonds by about 80 billion US dollars to diversify investment risks, optimize asset portfolios, and enhance long-term investment returns. According to the US Treasury's TIC data, the top countries that reduced their holdings of US Treasury bonds in June were Japan, China, and the United Kingdom, respectively. The traditional consensus on US Treasury bonds as “safe assets” is facing a new test due to the combination of multiple factors.

On September 11, the US 10-year Treasury yield approached the critical 5% mark. US Treasury yields continued to rise, and market concerns about the US fiscal outlook and debt burden continued to heat up. Recently, the Norwegian sovereign wealth fund plans to adjust the asset allocation of government bonds, including reducing the holdings of US Treasury bonds by about 80 billion US dollars to diversify investment risks, optimize asset portfolios, and enhance long-term investment returns. According to the US Treasury's TIC data, the top countries that reduced their holdings of US Treasury bonds in June were Japan, China, and the United Kingdom, respectively. The traditional consensus on US Treasury bonds as “safe assets” is facing a new test due to the combination of multiple factors.