After the United States canceled high tariffs on China, government bonds continued to experience a big dump.
In April, Trump launched a global trade war, announcing an exorbitant 145% tariff on China, which triggered two rounds of simultaneous declines in U.S. stocks, bonds, and currency that month, causing U.S. bond yields to soar and forcing Trump to back down.
Because the scale of US debt that needs to be rolled over by 2025 is about 7-8 trillion USD, most of which is concentrated in June, and the previous US debt interest rates were extremely low. Once replaced with high-interest bonds, it
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