Group 1 - US Treasury Secretary Janet Yellen stated that US government bonds "will never default," despite warnings from industry leaders about a potential collapse in the bond market [1][3] - Jamie Dimon, CEO of JPMorgan Chase, expressed concerns at the Reagan National Economic Forum, indicating that excessive fiscal spending and quantitative easing could lead to cracks in the bond market, although he is uncertain when a crisis might occur [3] - Goldman Sachs President John Waldron highlighted that the focus is shifting from tariff disputes to the rising government debt, identifying the budget debate and fiscal condition as the biggest macroeconomic risks [3] Group 2 - The US government debt ceiling is set at $36.1 trillion, which was reached in early January, leading the Treasury to rely on "extraordinary measures" to avoid default [4] - Analysts predict that the fiscal deficit for the 2026 fiscal year could reach $2.2 trillion, with a deficit rate of 7%, exceeding market expectations, which may increase supply pressure on US bonds [4] - The rising deficit is expected to push up US bond yields and exacerbate the fiscal burden, potentially becoming a source of ongoing volatility for dollar assets [4]