美国财长贝森特：国内外对美国国债的需求都非常强劲。 ...

美国国债需求短期内不会因稳定币增长而大幅提升？ 据追风交易台信息，花旗在6月20日的报告中表示，美元稳定币的崛起更多是美元储备地位的反映，而非推动因素。美国国债需 求短期内不会因稳定币增长而大幅提升，非美稳定币的相对增长将成为去美元化趋势的重要观察指标。 稳定币增长难以实质性推动美债需求 GENIUS稳定币法案已在参议院通过，众议院的STABLE法案也已出委员会。花旗认为这是为美国数字资产提供监管明确性的重 要步骤，对整个行业构成利好。立法通过是数字资产监管框架完善的关键里程碑，有助于加速稳定币的广泛应用。 市场普遍关注稳定币是否将成为美国国债需求的新增长点（提升美元地位）。 花旗分析认为，该问题的答案是有条件的 "既是又不是"。背后的关键在于资金来源：如果新发稳定币来自现有银行存款或货币 市场基金的转移，实际上不会产生净新增美债需求。 目前泰达币（Tether）和 Circle 主要持有美国国债，并通过回购交易来支撑资产。 花旗认为，短期内在稳定币普及度提升之前，其增长不会显著增加美国国债需求。当前稳定币的增长可能会分流银行存款（降 低银行对美国国债的需求）和 / 或货币市场基金（直接减少美国国债需求）。如 ...

Core Viewpoint - The U.S. Treasury Secretary, Janet Yellen, indicated that legislation on stablecoins may be completed by mid-July, which could create a new source of demand for U.S. Treasury securities [1] Group 1 - The potential completion of stablecoin legislation is expected to influence the demand dynamics for U.S. Treasury bonds [1] - The introduction of stablecoins could provide an alternative investment vehicle, thereby impacting the overall market for government securities [1]

金十数据6月16日讯，美国银行警告说，外国对美国国债的兴趣可能正在减弱。上周，代表国外需求的 托管资产急剧下降，美元资产持有量自4月份以来减少了600多亿美元。尽管近期美国国债标售缓解了眼 下的担忧，但美国银行表示，随着越来越多的全球投资者减少对美国资产的敞口，长期趋势令人不安。 美银警告：外国对美国国债的需求正在下降 ...

Group 1 - The focus is on the upcoming auction of $22 billion in 30-year U.S. Treasury bonds amid concerns over demand for long-term bonds due to the expanding U.S. government fiscal deficit [1] - The nonpartisan "Committee for a Responsible Federal Budget" estimates that the tax reform pushed by the Trump administration will increase U.S. government debt by $3.3 trillion over the next decade, potentially leading to more bond issuance [1] - The U.S. Treasury reported that the federal budget deficit expanded to $316 billion in May, bringing the cumulative deficit for the first eight months of the fiscal year to $1.36 trillion, a 14% increase from the previous year [1] Group 2 - The recent auction of 20-year U.S. Treasury bonds was disappointing, with the highest bid rate reaching 5.047%, marking the largest tail spread in six months, and the bid-to-cover ratio dropping to 2.46 [2] - The poor performance of the 20-year bond auction led to a sell-off in long-term U.S. Treasuries, with the 30-year bond yield rising to 5.15%, close to a 20-year high, impacting U.S. stocks and the dollar [2] Group 3 - U.S. inflation in May was lower than expected, boosting demand for short-term Treasuries as traders increased bets on a potential interest rate cut by the Federal Reserve [4] - A strong auction of 10-year U.S. Treasuries, with a winning yield of 4.421%, indicated investor willingness to accept lower returns for these bonds [4] Group 4 - Despite lower inflation, it remains above the Federal Reserve's 2% target, and policymakers are cautious about further rate cuts due to potential inflationary impacts from tariffs [5] - Bond management firms like DoubleLine Capital and PIMCO prefer holding Treasuries with maturities under 10 years and are reducing allocations to long-term bonds, viewing them as no longer a true risk-free asset [5] - Some analysts, however, see potential in 30-year Treasuries, suggesting they may rebound if auction demand is strong or deficit concerns ease [5]