According to Jinshi Data, U.S. Treasuries fell, with the 30-year bond yield reaching its highest level since the end of 2023. This week, 3-year, 10-year and 30-year Treasury auctions will be held on Wednesday, Thursday and Friday, Eastern Time.
U.S. debt is under pressure as uncertainty over the policies of the new U.S. administration could bring inflationary pressures. Comments by Federal Reserve officials, including San Francisco Fed President Mary Daly, over the weekend reinforced the view that the Fed will take a more cautious approach to rate cuts through 2025.
Mohit Kumar, chief economist at Jefferies International, said the hawkish tone of the Federal Reserve at its December meeting, coupled with concerns about the U.S. fiscal situation, has put upward pressure on interest rates.