杨华曌:特朗普关税威胁引发美债抛售 全球债券市场震荡

Group 1 - The core issue revolves around the U.S. threatening to impose tariffs on European countries over Greenland, which has weakened market demand for U.S. assets and heightened concerns about Washington's long-term fiscal situation [1][5] - Following a holiday in the U.S., the yields on 10-year and 30-year U.S. Treasury bonds rose by at least 3 basis points during Asian trading hours [1][5] - The unpredictability of President Trump's policies has been questioned again as he plans to tax certain European nations in pursuit of Greenland [1][5] Group 2 - Japanese government bonds also fell, with the 40-year JGB yield rising to 4%, influenced by the government's plan to implement tax relief on food, leading to a spike in long-term yields [1][5] - European countries hold a significant amount of U.S. Treasury bonds and stocks, partly owned by public sector funds, raising speculation that they might sell U.S. assets in response to the renewed tariff conflict initiated by Trump [1][5] - U.S. Treasury Secretary Mnuchin expressed skepticism about the EU's ability to respond quickly to Trump's "Greenland tariffs," predicting that the EU is more likely to form a "terrible European working group" rather than take immediate action [1][5] Group 3 - The EU has significantly reduced its purchases of Russian fuel, but aims to completely eliminate imports of Russian energy by the end of 2027 [6] - In response to Trump's threats, the EU is preparing to impose retaliatory tariffs on U.S. exports valued at €93 billion, which may be implemented before utilizing the "anti-coercion tool" [6] - Trump is scheduled to arrive in Davos on Wednesday, while European nations are currently engaged in intense discussions on how to respond [6]