美联储计划放宽对大型银行资本要求 2年期美债收益率跌创一个半月新低

Group 1 - The overall trend of U.S. Treasury yields continues to decline, with the 10-year Treasury yield slightly dropping to 4.29% and the 2-year yield falling to 3.78%, marking a new low since May 7 [1] - The Federal Reserve proposed modifications to the Enhanced Supplementary Leverage Ratio (eSLR) for large banks, reducing capital requirements from 5% to a range of 3.5% to 4.5%, which aims to enhance the resilience of the U.S. Treasury market [1] - Federal Reserve Vice Chair Bowman stated that the proposal would help reduce the likelihood of market dysfunction and the need for Fed intervention during future stress events [1] Group 2 - Traders are increasing bets on bullish options for U.S. Treasuries, anticipating that the 10-year yield may drop to 4%, with at least $38 million invested in options expiring in August [2] - However, some analysts argue that the term premium for holding long-term Treasuries has not changed significantly, suggesting limited room for further declines in yields [2] - The Federal Reserve is unlikely to lower rates below 3% in the next easing cycle, which would support higher yields [2]