从美债市场动摇看“广场协议2.0”的不现实

Group 1 - The recent downgrade of the US government bond rating by Moody's has shaken trust in what was once considered a safe asset [2] - The passage of significant legislation, including the extension of Trump's tax cuts, is projected to increase US government debt by $3.1 trillion over the next decade [1] - The Federal Reserve Board member Waller expressed concerns about the unsustainable nature of the US fiscal deficit, indicating that the market will seek higher interest rates on US bonds until government spending is controlled [1][2] Group 2 - The US bond market is facing instability due to multiple factors, including the downgrade of the bond rating, reduced purchases by China, and weak demand for 20-year bonds [2] - The Trump administration's push for a weaker dollar to boost manufacturing may conflict with the need for a strong dollar to attract foreign investment [2][3] - The US Treasury Secretary emphasized that exchange rates should be determined by the market, indicating a preference for currency stability over inducing a weaker dollar [3]