QCP issued a briefing saying that the global financial marekt has entered a period of calm, volatility in most asset classes has continued to decline, and the market reaction to negative news has weakened. US Treasury yields have fallen after last week's "beautiful bill" triggered fiscal concerns, with 10-year and 30-year Treasury yields falling below 4.5% and 5.0% respectively. Japan's 30-year Treasury yield has also fallen below 3%, but remains at an all-time high.
Focus has shifted to June's auction of US Treasuries and today's issuance of 40-year notes by Japan's Ministry of Finance. The economy is in a "moderate" state, and the full impact of tariffs introduced last month has not yet been felt and is not expected to be reflected in the data until the third quarter.
Meanwhile, Senator Lummis' wide-ranging remarks on stablecoins and bitcoin strategic reserves have reignited hopes for cryptocurrency policy progress. Trump Media reportedly plans to raise $2.50 billion and join the ranks of businesses building bitcoin reserves, and if the meeting builds momentum, more companies may follow suit, providing the market with new structural buying.
QCP: Global asset volatility decreases, US bond yields fall
2025-05-28 09:56:59
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