美国国债需求下降, 转向非美避险资产

Group 1 - The U.S. bond market experienced significant volatility due to escalating U.S.-China trade tensions, with China announcing an increase in tariffs on U.S. imports from 84% to 125%, effective April 12 [1] - U.S. Treasury yields surged to two-month highs, with the 10-year yield reaching 4.48% and the 30-year yield at 4.85%, indicating substantial selling pressure on long-term U.S. debt [2][4] - A report indicated that countries, including China, are reducing their holdings of U.S. Treasuries, contributing to rising yields and putting pressure on the dollar [2] Group 2 - The weak demand for U.S. Treasuries may lead to further increases in yields, raising the government's financing costs, posing a new challenge for the Trump administration, which is attempting to push for interest rate cuts [5] - The decline in demand may reflect a weakening market confidence in U.S. fiscal management and economic stability, potentially exerting greater pressure on the overall financial market [5] Group 3 - Gold prices surged over $200 in just three days, reaching a new historical high, driven by strong safe-haven demand amid increasing global uncertainty [7] - The current "risk-averse" environment is prompting funds to move away from traditional assets into safe-haven instruments like gold, especially as demand for U.S. Treasuries declines [7] - From a technical perspective, gold maintains an overall bullish trend, with a key support level at the breakout point of $3167, and the next target for upward movement is around $3300, corresponding to the 161.8% Fibonacci extension level [8]