美债收益率曲线持续陡峭化凸显货币政策影响关键点

Core Insights - The steepening of the U.S. Treasury yield curve indicates that monetary policy actions significantly impact the short end of the curve, while long-term structural issues, such as inflation above target and large fiscal deficits, will continue to exert pressure on the long end [1] Group 1 - Madison Investment's fixed income head, Mike Sanders, noted that the acknowledgment of a weak labor market by Federal Reserve Chairman Powell quickly boosted bond buying, reversing the initial sell-off of U.S. Treasuries and pushing up the yield curve [1] - Madison anticipates that the Federal Reserve's subsequent easing measures will slow down, predicting that it will remain on hold until the second quarter of 2026 [1]