3、利息吞噬黑洞：30年期美债收益率突破5%后，偿债成本已超军费开支。 作为全球最大债务国，美国正陷入更深层次的货币困境：既要维持美元国际储备地位，又需持续发行天 量国债填补赤字。萨默斯警告，当美债规模突破40万亿美元大关，国际市场对美元的信心阈值可能被击 穿，"届时各国央行抛售美债的速度，或将比2022年英国养老金危机时的英镑崩溃更迅猛"。 特朗普经济团队坚称"增长至上"，认为3.5%的GDP增速配合10%关税收入可化解债务危机。但高盛模型 显示，全面关税将直接推升核心PCE通胀1.2个百分点，而放松金融监管可能重演2008年CDS市场崩盘 场景。萨默斯犀利指出："这是将里根供给侧改革与伯南克量化宽松政策粗暴嫁接的危险实验"。 在这场牵动全球神经的财政博弈中，萨默斯意外表态支持特朗普取消债务上限的提议，认为"周期性政 治闹剧已严重损害国家信用"。但其强调，财政纪律重建必须配套税收体系改革，包括堵塞跨国企业避 税漏洞、开征数字服务税等措施，否则任何债务重组方案都是"在流沙上建城堡"。 随着参议院即将对法案进行最终表决，全球央行已悄然启动应急预案。这场关乎美元霸权存亡的战役， 注定将载入国际金融史册。 来源：极 ...

Group 1 - UAB "Kvartalas" aimed to raise 5 million euros during the offering of the third tranche of bonds to finance the development of the "Sąvaržėlė" business centre in Vilnius, with the offering period shortened due to high demand, reaching 11.5 million euros in demand within three days [1][2] - The total nominal value of bonds issued in the third tranche was increased from 5 million euros to 10,131,700 euros, with a total of 30,131,700 euros in bonds issued across all tranches [2] - The bonds were publicly offered to retail and institutional investors in the Baltic States, with 181 investors participating, including 153 from Lithuania, 16 from Estonia, and 12 from Latvia [3] Group 2 - The nominal value of one bond is 100 euros, with a fixed annual interest of 8% paid every six months, and redemption scheduled for 19 December 2026, offered at a price corresponding to a 6.75% yield [4]

[Music] Stocks, bonds, ETFs, straight out of downtown Chicago. This is Zach's Market Edge. Welcome to Zach's Market Edge, the podcast about investing in your life.I'm your host, Tracy Reinick, and this week I'm going solo to talk about growth stocks. We have the bull charging again and it looks like we might get a breakout in the S&P 500 again here this summer in 2025 after we had the big trade war selloff. We're back to surging again.And so I wanted to take a look at the key area that is seeing most of the ...

Key Takeaways GS retains the top spot in announced and completed M&A deals in 1Q25 despite sector headwinds. Goldman has exited consumer finance to refocus on high-margin IB and trading businesses. GS's IB revenues fell 8% y/y, but a strong advisory backlog signals potential recovery ahead.The Goldman Sachs Group (GS) reaffirmed its dominance by maintaining its long-standing top position in announced and completed mergers and acquisitions (M&A) in the first quarter of 2025. This underscores the firm’s end ...

4 June 2025 | 4:26PM EDT Macro at a Glance: Latest views and forecasts Download PDF | Download PowerPoint To subscribe to Macro at a Glance, visit the page and click "Follow." Changes to flag this week: n Raised our 2025 LME aluminum price forecast to $2,400/mt (from $2,300/mt) to reflect a less severe-than-expected hit to global activity from the trade war but lowered our 2026 price forecast to $2,230/mt (from $2,540/mt) to reflect likely softer balances further out. Watching n Globally, we expect real GDP ...

4 June 2025 | 5:54PM EDT What's Top of Mind in Macro Research: Fiscal policy focus, ECB projections, US jobs report This week: Transcript Fiscal policy focus We continue to expect the budget reconciliation bill currently making its way through Congress will have only a modest impact on the US fiscal balance relative to current policy. Similarly, we think that the corporate provisions in the bill will have only modest direct impacts on S&P 500 earnings and cash flows. Specifically, we estimate that the provi ...

3 June 2025 | 9:27AM EDT US Monthly Inflation Monitor: May 2025: The Tariff Boost Remains Small for Now but Should Rise From Here (Rindels) Goldman Sachs & Co. LLC n Recent inflation trends: n Factors influencing core goods prices: Jan Hatzius +1(212)902-0394 | Goldman Sachs & Co. LLC Alec Phillips +1(202)637-3746 | Goldman Sachs & Co. LLC David Mericle +1(212)357-2619 | david.mericle@gs.com Goldman Sachs & Co. LLC Ronnie Walker +1(917)343-4543 | ronnie.walker@gs.com Goldman Sachs & Co. LLC Manuel Abecasis ...

4 June 2025 | 11:19PM HKT Lisheng Wang +852-3966-4004 | lisheng.wang@gs.com Goldman Sachs (Asia) L.L.C. Xinquan Chen +852-2978-2418 | xinquan.chen@gs.com Goldman Sachs (Asia) L.L.C. Yuting Yang +852-2978-7283 | yuting.y.yang@gs.com Goldman Sachs (Asia) L.L.C. Chelsea Song +852-2978-0106 | chelsea.song@gs.com Goldman Sachs (Asia) L.L.C. China Matters No Rotation to Domestic Demand Yet (Shan) Andrew Tilton +852-2978-1802 | andrew.tilton@gs.com Goldman Sachs (Asia) L.L.C. Hui Shan +852-2978-6634 | hui.shan@gs. ...

4月以来，2025年6月美国将面临"天量美债到期并引发偿付危机"这一言论在市场迅速发酵，部分观点甚 至渲染称单月到期规模达6万亿美元，可能导致美国出现技术性违约。 然而，多位券商分析师在拆解数据后发现，这一担忧存在显著的统计误读与逻辑偏差：从一致统计口径 看，2025年美国国债到期规模10.8万亿美元，与2024年到期额10.6万亿美元接近，并未出现"爆炸式"增 长。 华通证券国际首席经济学家张凌博士在接受《每日经济新闻》记者（以下简称"每经记者"）采访时指 出，"根据美国财政部4月美债报告中最新的数据，6月份到期的美债总额是1.45万亿美元，其中短债为 1.27万亿美元。如果考虑到从4月份开始还有新的短债发行和到期，合理预估6月份美债到期的量也不会 超过2.4万亿美元，其中大部分是借新还旧的短债。这个量既不是天量，也不是全年最高。" 值得一提的是，短债本就是财政部日常流动性管理的工具，到期后"借新还旧"是市场常态。 尽管"天量危机"警报解除，但关于美债的风险并未彻底解除，真正的压力测试或在第三季度。 美国国会预算办公室（CBO）5月26日警告称，如果国会无法及时提高债务上限或暂停债务上限生效， 美国联邦政府 ...

Group 1 - American Trust Investment Services, Inc. (ATIS) is acting as the exclusive placement agent for Fly-E Group Inc. in its follow-on public offering [1][5] - The offering includes 28,595,553 shares of common stock and 57,191,106 warrants, with a public offering price of $0.2428 per share, aiming for gross proceeds of approximately $6.94 million [2] - Fly-E Group Inc. specializes in electric vehicles, focusing on smart electric motorcycles, e-bikes, scooters, and related accessories, and operates over 30 retail stores in the U.S. [3] Group 2 - The net proceeds from the offering will be allocated for inventory purchases, vehicle production, and general corporate purposes [4] - ATIS emphasizes its commitment to supporting high-growth companies like Fly-E, aiming to enhance their market leadership in sustainable mobility [5] - ATIS is recognized for providing tailored capital markets solutions and has a strong track record in guiding businesses through complex financial transactions [6]