Bank of America(US:BAC) Xin Lang Cai Jing·2025-12-29 07:56Group 1 - The CEO of Bank of America, Brian Moynihan, predicts a de-escalation of trade tensions under the Trump administration in the coming year, despite the impact of 2025 tariff measures on the U.S. economy [1][6] - The new tariff framework will maintain an average rate of 15%, with higher rates for countries unwilling to commit to increased purchases from the U.S. or to reduce non-tariff barriers [1][6] - Moynihan states that the adjustment from a comprehensive 10% tariff to 15% will not significantly impact most countries, indicating signs of easing tensions [1][6] Group 2 - The U.S. Treasury market is experiencing notable friction due to the Federal Reserve's reduction of its bond holdings since 2022, with the failure to deliver 10-year Treasury bonds reaching its highest level in eight years [1][6] - As of the week ending December 10, the value of undelivered transactions for the latest 10-year Treasury bonds reached $30.5 billion, the highest since December 2017 [1][6] - Market analysts suggest that the ongoing balance sheet reduction by the Federal Reserve may lead to more frequent structural tensions in the key maturity Treasury bonds, posing new challenges to the stability of short-term funding markets [1][6]