Group 1 - Global stock markets surged on July 23 due to the US-Japan trade agreement, leading to a decline in market risk aversion and a shift from bonds to stocks [1] - US Treasury yields rose slightly, with the 2-year yield increasing by 5 basis points to 3.88%, the 10-year yield rising by 5 basis points to 4.4%, and the 30-year yield up by 5 basis points to 4.95% [1] - The focus is now on the Federal Reserve's monetary policy meeting on July 29-30, where it is widely expected that interest rates will remain unchanged despite political pressure for cuts [3] Group 2 - The S&P 500 index is expected to rise further as the US economy withstands the global trade war, although unpredictable trade policies and attacks on the Fed's independence could trigger market declines [4] - European stock markets rose on hopes of a trade agreement, with bond yields increasing across the board, including a 6.7 basis point rise in the 10-year German bond yield to 2.666% [4] - In the Asia-Pacific region, Australian bond yields also rose, with the 2-year yield increasing by 2 basis points to 3.355% and the 10-year yield up by 3.6 basis points to 4.332% [4] Group 3 - Japanese bond yields increased overall, with the 10-year yield reaching a high of 1.6010%, the highest since October 2008, before closing at 1.594% [8] - The US Treasury plans to issue $201 billion in bonds, including $95 billion in 4-week and $85 billion in 8-week short-term bonds, amid expectations of significant short-term debt issuance [8][9] - The actual net financing needs of the US Treasury in Q2 reached $514 billion, exceeding earlier estimates by $391 billion, indicating a strong demand for short-term bonds [9]
市场避险情绪消退 投资者“弃债从股”
Xin Hua Cai Jing·2025-07-23 23:27