Group 1 - The auction of 20-year U.S. Treasury bonds showed robust demand, with the direct bidder allocation ratio reaching a historical high and the allocation to primary dealers at one of the lowest levels in history [1] - The awarded yield for the 20-year bonds was 4.613%, significantly lower than the previous month, marking the lowest since October 2024 [1] - The bid-to-cover ratio was 2.74, higher than in July and the second highest since March, indicating strong actual demand [1] Group 2 - The average fixed-rate mortgage loan rate for 30-year terms dropped significantly by 12 basis points to 6.13%, the lowest since the end of 2022 [1] - Historical trends suggest that in a recessionary environment, rate cuts may lower long-term yields, while in a non-recessionary environment, the impact on long-term rates may be minimal [1] - There is a possibility that the market may react by "buying the rumor, selling the fact," leading to a slight sell-off of 10-year Treasuries after the Federal Reserve announces a rate cut [1]
20年期美债:拍卖需求稳健,30年期房贷利率降至6.13%
Sou Hu Cai Jing·2025-09-17 01:24