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2026-09-15 18:52:08
[US Treasury Secretary to Testify Before House; Market Focuses on Signals Regarding Fiscal Policy and Debt Management] ⑴ US Treasury Secretary Bessenter will testify before the House Financial Services Committee at 22:00 Beijing time tonight, delivering his annual testimony on the state of the international financial system. ⑵ Given that the 10-year US Treasury yield has now broken through 5%, the market will focus on whether Bessenter releases any new signals regarding fiscal policy, Treasury issuance and repurchase programs, debt management, and the outlook for the US dollar and interest rates. ⑶ If his remarks lean towards controlling the deficit and stabilizing the bond market, it may alleviate upward pressure on long-term US Treasury yields. ⑷ If he signals further fiscal expansion or tolerance for high interest rates, it is necessary to be wary of further increases in US Treasury yields and to monitor the interconnected reactions of the US dollar, gold, US stocks, and risk assets.
