市场高度关注中东地缘局势 美债收益率连续两日上行

Group 1 - The recent escalation of conflict between Israel and Iran has led to a surge in international oil prices and increased concerns about inflation in the U.S. [1] - U.S. Treasury yields have risen, with the 10-year yield increasing by 5.55 basis points to 4.45%, and the 2-year yield rising by 2.10 basis points to 3.97% [1] - Analysts predict that the pressure on 10-year U.S. Treasuries may continue due to the ongoing conflict, similar to past instances where yields spiked during periods of heightened tensions [1] Group 2 - The U.S. Treasury's recent auction of $13 billion in 20-year bonds showed strong demand, with a bid-to-cover ratio of 2.68, the highest since March [2] - The indirect bid ratio, indicating foreign demand, was 66.7%, slightly lower than previous levels, while direct bids from domestic investors increased to 19.9% [2] - Concerns are growing regarding foreign demand for U.S. Treasuries as global investors seek to reduce exposure to U.S. assets [2] Group 3 - Central banks have been selling U.S. Treasuries since March, with a reported average reduction of $17 billion in holdings as of June 11, totaling a decline of $48 billion since late March [3] - Foreign holdings in the Federal Reserve's reverse repo facility have also decreased by approximately $15 billion since late March [3]