The decline in the yield of US bonds means that a large amount of funds are buying US bonds, and collectively rushing to raise funds and avoiding risks has led to a decline in the yield of US bonds. US Treasury bonds are safe-haven assets. When its price starts to rise, it means that the funds in the US risk market are constantly withdrawing, and then transferred to the US Treasury bond market for hedging. At the same time, the influx of a large amount of funds will cause the yield of US bonds to continue to decline, which in turn will lead to a decline in the yield of US bonds.

If the rate of decline in US bond yields is relatively slow, then we can think that this is caused by the spontaneous decline of the market. If it is relatively fast, it is obvious that the market is affected by some unfavorable factors. For example, the high risk of assets such as the US stock market and junk bonds may be oversold by the market, which may lead to the crisis of the stock market, junk bonds and derivatives markets. Under normal circumstances, the sharp drop in the yield of national debt will reduce the willingness of international capital to invest in US debt, which will lead to the further release of liquidity in the United States in order to save the market, that is, to put funds into the market.

Us treasury bonds refer to the national bonds issued by the us treasury on behalf of the federal government. According to the different issuance methods, US Treasury bonds can be divided into voucher-type treasury bonds, physical voucher-type treasury bonds (also known as bearer from bond or treasury bonds) and book-entry treasury bonds.

According to the maturity of bonds, US Treasury bonds can be roughly divided into three categories: T-Bills, T-Notes and T-bonds. In addition to local investors, countries around the world can also buy US Treasury bonds. In previous years, the average annual issuance of US Treasury bonds was 500 billion to 600 billion US dollars.

20 18 in April, China and Japan reduced their holdings by $5.8 billion and 123 billion respectively, and a total of 19 countries sold US Treasury bonds in April.

According to the data released by the U.S. Treasury Department on June 15, in June of 20 19, Japan increased its holdings of U.S. Treasury bonds by 21900 million dollars, China increased its holdings of U.S. Treasury bonds by 2.3 billion dollars, and Japan surpassed China to become the largest creditor country in the United States.

On August 17, 2020, the US Treasury Department issued the Monthly Report on International Capital Flows. Data show that in June, China sold 9.3 billion US dollars of national debt (about 64.3 billion yuan), making it the country that sold the most US debt. As of August 17, 2020, the total amount of US debt held by China remained above 1 trillion US dollars, and it remained the second largest overseas holder of US debt.

According to the report released by the U.S. Treasury Department on February 1 2022, the total amount of U.S. national debt exceeded $30 trillion for the first time, a record high.