Group 1 - The U.S. Treasury Department is set to auction a record $100 billion in 4-week Treasury bills on August 7, highlighting the government's significant borrowing needs and its ability to attract investors [1][2] - This record issuance is a $5 billion increase from the previous week and is part of the Treasury's efforts to replenish its General Account (TGA) following the recent increase in the debt ceiling [1][5] - The Treasury plans to continue relying on short-term debt instruments to cover budget deficits at least until 2026, with a focus on increasing the issuance of short-term securities [1][5] Group 2 - The Treasury will also issue a total of $125 billion in coupon-bearing securities this week, with the 3-year and 10-year notes reaching their highest single issuance levels in over a year [2][3] - Specific plans include the issuance of $58 billion in 3-year notes, $42 billion in 10-year notes, and $25 billion in 30-year bonds [3][4] - The Treasury's strategy indicates a continued emphasis on short-term debt, with short-term securities expected to comprise a larger portion of the total outstanding debt in the coming months [5][6] Group 3 - There is currently strong demand for short-term Treasury securities, supported by inflows into U.S. money market funds, which hold approximately $7.4 trillion in assets [6][7] - However, potential risks arise from the Federal Reserve's anticipated interest rate cuts, which may affect the ability of money market fund managers to absorb the supply of short-term securities [6][7] - Analysts predict that despite the current focus on short-term debt, the government will eventually need to increase the issuance of longer-term bonds to meet future borrowing demands [7]

Group 1: Hot News - The U.S. House of Representatives passed President Trump's "big and beautiful" tax and spending bill with 218 votes in favor and 214 against. The bill raises the federal government's debt ceiling by $5 trillion and may increase the budget deficit by $3.4 trillion in the next decade [3] - In June, China's warehousing index was 51%, up 0.5 percentage points from the previous month, and has been in the expansion range for eight consecutive months. Major sub - indices have rebounded [3] - U.S. non - farm payrolls increased by 147,000 in June, far exceeding the expected 110,000. The unemployment rate unexpectedly dropped to 4.1%. After the data release, the market abandoned bets on a Fed rate cut in July, and the probability of a rate cut in September dropped to about 80% [3] - OPEC+ has started discussing an 8 - month production increase of 411,000 barrels per day and will further discuss it in an online meeting this weekend [4] - As of the week of July 3, rebar production increased for the third consecutive week, factory inventory decreased, social inventory increased, and apparent demand increased for two consecutive weeks. Rebar production was 2210800 tons, up 1.49%; factory inventory was 1804700 tons, down 2.76%; social inventory was 3647400 tons, up 0.37%; apparent demand was 2248700 tons, up 2.26% [4] Group 2: Key Focus and Market Performance - Key commodities to focus on are urea, lithium carbonate, hot - rolled coil, soybean oil, and PVC [5] - Night - session performance by sectors: Non - metallic building materials 2.75%, precious metals 27.92%, oilseeds 12.06%, non - ferrous metals 21.61%, soft commodities 2.82%, coal, coke, steel and ore 13.52%, energy 3.05%, chemicals 12.35%, grains 1.11%, agricultural and sideline products 2.81% [5] Group 3: Asset Performance - Equity: The Shanghai Composite Index had a daily increase of 0.18%, a monthly increase of 0.49%, and an annual increase of 3.26%. Other indices also had different performance [7] - Fixed - income: 10 - year, 5 - year, and 2 - year treasury bond futures had their respective daily, monthly, and annual performance [7] - Commodities: The CRB commodity index, WTI crude oil, London spot gold, LME copper, and Wind commodity index had different performance [7] - Others: The U.S. dollar index and CBOE volatility had their respective performance [7]