The US Treasury International Capital (TIC) report showed that in July, overseas investors' holdings of US Treasury bonds decreased by $50.4 billion month-on-month to $9.25 trillion, the lowest level since October 2025. Among them, Japan's holdings decreased by $12.8 billion month-on-month to $1.1039 trillion, marking new lows for two consecutive months since January 2025; mainland China's holdings decreased by $15.4 billion month-on-month to $618 billion, a new low in nearly eighteen years since 2008. Meanwhile, the UK bucked the trend by increasing its holdings by $58.4 billion to $998.3 billion, surpassing the previous record high set in May.