美国财长贝森特致信国会山：债务上限措施到8月可能会被耗尽，呼吁国会到7月中旬批准提高债务上 限。 ...

美国财长贝森特表示，债务上限措施到8月可能会耗尽。(智通财经) ...

Core Viewpoint - The sensitivity of repurchase agreement rates relative to the U.S. Treasury General Account rates indicates that financing pressures may increase once the debt ceiling is resolved [1] Group 1: Impact of Treasury Settlements - The impact of Treasury coupon settlements on the Secured Overnight Financing Rate (SOFR) is nearly double the expected increase [1] Group 2: Month-End Deleveraging - Month-end deleveraging, particularly by the Bank of Canada at the end of April, influences the rise in repurchase rates as cash borrowers must pay higher rates to obtain cash in the bilateral market [1]

| | | 干米 -- - 反示 间数 | | | | --- | --- | --- | --- | --- | | 市场 | 名称 | 现价 | 涨跌 | 涨跌幅 | | 欧美 | 道琼斯工业平均 | 40829 | -389.83 | -0.95% | | | 纳斯达克 | 17689.66 | -154.58 | -0.87% | | | 标普500 | 5606.91 | -43.47 | -0.77% | | | 欧洲斯托克50 | 5263.38 | -19.67 | -0.37% | | | 英国富时100 | 8597.42 | 1.07 | 0.01% | | | 法国CAC40 | 7696.92 | -31.01 | -0.40% | | | 德国DAX | 23249.65 | -94.89 | -0.41% | | | 俄罗斯RTS | 1097.25 | 43.97 | 4.17% | | | 上证指数 | 3316.11 | 37.08 | 1.13% | | | 深证成指 ← | | 10082.34 182.51 | 1.84% | | | 创业板指 == | | 1986 ...

Market Overview - Major indices in the US closed lower, with the Dow Jones down 389.83 points (0.95%) at 40829.00, Nasdaq down 154.58 points (0.87%) at 17689.66, and S&P 500 down 43.47 points (0.77%) at 5606.91 [1] - European markets showed mixed results, with Germany's DAX30 down 85.84 points (0.37%) at 23249.58, while the UK FTSE 100 rose slightly by 2.92 points (0.03%) to 8599.27 [1] Currency Market - The US Dollar Index fell by 0.59% to 99.237, with the Euro rising to 1.1371 USD from 1.1313 USD, and the British Pound increasing to 1.3376 USD from 1.3289 USD [2] Cryptocurrency and Commodities - Bitcoin increased by 0.51% to 95312.49 USD, while Ethereum dropped over 1.6% to 1791.71 USD [3] - Spot gold prices rose above 3400 USD, with local jewelry prices also increasing, such as Chow Tai Fook's gold price at 1026 CNY per gram, up 28 CNY [3] - Crude oil prices saw significant increases, with NYMEX light crude up 1.96 USD (3.43%) to 59.09 USD per barrel, and Brent crude up 1.92 USD (3.19%) to 62.15 USD per barrel [3] Corporate News - AMD reported first-quarter earnings that exceeded expectations, with a 36% year-over-year revenue increase to 7.44 billion USD, driven by a 57% growth in its data center segment [7] - Microsoft is launching two low-end Surface tablets to promote its AI tools, with the Surface Laptop starting at 899 USD and the Surface Pro at 799 USD, aiming to compete with Apple's devices [8]

【导读】美国财政部长最新言论提振市场，美国3月贸易逆差创历史新高 中国基金报记者 泰勒 大家好，今晚继续关注海外市场的表现。 美股下跌 5月6日晚间，美股开盘"杀跌"，但随后三大指数跌幅明显收窄。截至发稿，道指跌超220点，纳指跌约0.6%，标普500指数跌约0.5%。 另外，贝森特还警告称，美国财政部正处于"预警轨道"上，逐渐接近其在联邦债务上限内运作的能力极限，但在周二他仍未给出具体的时间表。 贝森特在众议院拨款委员会的问答环节中表示："当我们认为正接近所谓的'X日'——即财政部无法按时支付政府所有账单的日期时，我们将会告知国 会。"他补充说，财政部仍在统计最新报税季节的税收收入。 债务上限自1月初恢复生效以来，美国财政部一直通过特殊的会计手段避免触及上限，同时继续履行联邦支付义务。华尔街分析师预计，美国财政部最 多可持续到8月至10月之间，届时将需要国会提高或暂停债务上限。 纳斯达克综合指数(NASDAQ:.IXIC) 加自选 17728.66 -115.58 -0.65% 33.27 万球友关注 交易中 05-06 11:53:03 美东时间 今开: 17623.21 量比: 0.97 最高: 177 ...

美国财长贝森特：我们正处于达到债务上限的警告轨道上。 ...

证券研究报告·宏观报告·宏观深度报告 #海外政治 特朗普 2.0 百日新政复盘及后市展望 2025 年 05 月 06 日 证券分析师 韦祎 执业证书：S0600525040002 weiy@dwzq.com.cn 研究助理 王茁 执业证书：S0600124120013 wangzhuo@dwzq.com.cn 证券分析师 芦哲 执业证书：S0600524110003 luzhe@dwzq.com.cn 证券分析师 张佳炜 执业证书：S0600524120013 zhangjw@dwzq.com.cn 相关研究 《五一假期海外市场：强非农再压降 息预期》 2025-05-05 《美债天量的到期 vs 供给，哪个更致 命？》 2025-04-30 东吴证券研究所 1 / 17 请务必阅读正文之后的免责声明部分 [Table_Tag] [Table_Summary] ◼ 核心观点：特朗普 2.0 百日新政兼具特朗普 1.0 政策延续和新政治周期 起点的双重特征，而在政策落地上，关税和财政政策成为最大的两个"预 期差"来源，二者在影响全球增长预期的同时，也使得特朗普 2.0 百日 新政内的大类资产走势与 1.0 时 ...

Group 1 - Alphabet's Chief Information Officer stated that the skills gap in the U.S. workforce puts the country at a disadvantage [1] - IBM's CEO Cohen expressed an optimistic outlook on the future direction of the U.S. economy [2] - State Street's CEO O'Hanley described the tariff policy as "chaotic" [3] Group 2 - The Director of the Congressional Budget Office still expects the debt ceiling to be reached by late summer [4] - Wamco's Chief Investment Officer Buchanan believes the likelihood of the U.S. economy entering a major recession is very low [5]

Group 1 - The U.S. Treasury Department announced it will issue $125 billion in government bonds during the upcoming quarterly refinancing auction, maintaining the long-term bond issuance guidance unchanged [1][2] - The Treasury expects borrowing needs for the second quarter to reach $514 billion, which is $391 billion higher than previous estimates [1] - The Treasury is evaluating potential enhancements to its repurchase program to better achieve liquidity support and cash management goals, responding to recent market volatility [1][2] Group 2 - Treasury Secretary Yellen's previous strategy of suppressing long-term bond sales to lower borrowing costs is being continued by Secretary Besant, despite market turbulence reinforcing arguments against increasing medium to long-term bond issuance [2][4] - The debt ceiling has constrained the Treasury's ability to increase the total supply of government bonds, forcing the use of cash reserves and special accounting measures [2][3] - Analysts predict that the Treasury may not need to resume increasing note and bond auction sizes until late this year or early 2026, although a significant fiscal deficit suggests that an increase in issuance is likely at some point [4][5] Group 3 - The upcoming refinancing auction will consist of $125 billion, including $58 billion in 3-year notes, $42 billion in 10-year notes, and $25 billion in 30-year bonds [5] - The Treasury plans to slightly increase the sales of Treasury Inflation-Protected Securities (TIPS) to maintain its market share, with specific adjustments outlined for upcoming months [5]