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CSOP FTSE US Treasury 20+ Years Index ETF: AUDITED ACCOUNTS AS AT 31 DECEMBER 2024
Market Dislocations in U.S. Treasurys Seen Largely Healed -- Market Talk
The sell-off is not over yet! USA Assets are still being "disdained" by overseas investors…
① According to data provided by Deutsche Bank, despite the market recovering over the past week, foreign investors' willingness to invest in USA assets continues to decline; ② Deutsche Bank's Forex research director George Saravelos believes that the recent data on USA capital flows is concerning.
"Debt ceiling" causes trouble! The U.S. Treasury Department's borrowing expectations for Q2 increase threefold, excluding the impact, borrowing decreases instead of increasing.
The U.S. Treasury announced on Monday that the estimated net borrowing for the second quarter is 391 billion dollars higher than expected in February, due to Congress not yet raising the federal debt ceiling, and the initial cash reserves at the beginning of the second quarter being far lower than previously anticipated. The Treasury stated that if the cash balance at the beginning of the season is not taken into account, the estimated borrowing for the second quarter is actually 53 billion dollars lower than the forecast made in February. Some analysts believe this is because DOGE is indeed having an effect, improving the fiscal situation and reducing financing demand.
Besent's new bond issuance strategy: short-term bonds "steady", long-term bonds "gradual", closely monitoring stablecoin "major investors".
On Wednesday, the USA Treasury will announce the bond auction scale for the quarter from May to July. The market expects the Treasury to continue issuing bonds at the established pace, with next week's quarterly redemption auction expected to remain around 125 billion dollars. Some believe the market may interpret this as the Treasury being more inclined to rely on short-term bonds, which is a positive signal for long-term bonds.
Barclays Affirms Long 5-Year U.S. Treasury Recommendation -- Market Talk
