美债压力接棒关税！穆迪下调美国评级后，“抛售美国资产”情绪小幅升温

Group 1 - The core issue affecting investors is the downgrade of the US government's credit rating by Moody's from Aaa to Aa1, attributed to the growing budget deficit with no signs of narrowing [1][4][5] - The 10-year US Treasury yield rose to 4.49%, with expectations that yields for both 10-year and 30-year bonds could increase by 5-10 basis points due to the downgrade [2][6] - Concerns about the US fiscal trajectory are leading large investors to shift from US Treasuries to other safe-haven assets, potentially increasing debt repayment costs and creating a "bear steepening" spiral for US yields [2][4] Group 2 - The US federal budget deficit is projected to exceed $2 trillion annually, surpassing 6% of GDP, with expectations that it could reach nearly 9% of GDP by 2035 [4][5] - Despite the significant deficit, there are indications that lawmakers may continue to pursue a large tax and spending bill, which could add trillions to federal debt over the next decade [6] - The demand for US government securities remains strong, indicating no immediate signs of a sell-off, despite concerns about fiscal irresponsibility and trade tensions [6][7]