Group 1 - The core viewpoint of the articles highlights the rising U.S. Treasury yields, particularly in the long-term bonds, due to uncertainties surrounding U.S. economic policies and fiscal outlook, which have diminished investor confidence [1][2] - The JOLTS report indicates that in April, U.S. job vacancies reached 7.391 million, exceeding economists' expectations of 7.1 million, with a notable increase of 191,000 from March [1] - The U.S. manufacturing new orders fell by 3.7% in April, surpassing the Dow Jones forecast of a 3.3% decline, indicating a retreat in demand following a surge in March [1] Group 2 - The strategy team at Rabobank expressed understanding of the lack of appeal for long-term U.S. Treasuries, attributing it to the ambiguous outlook of U.S. trade and fiscal policies [2] - Morgan Stanley's Bob Michele suggested that the U.S. Treasury Secretary has valid reasons to reduce or cancel the issuance of 30-year bonds, similar to recent actions taken by the UK [2] - Jeffrey Gundlach's DoubleLine Capital recommended avoiding or shorting 30-year U.S. Treasuries, reflecting a cautious stance on long-term bonds [2]
就业数据发布后美债回吐涨幅 市场对长期美债缺乏信心
Xin Hua Cai Jing·2025-06-04 01:25