According to Jinshi data, Goldman Sachs economists pointed out in a report that the fundamental judgment of the U.S. economy supports a decline in short-term U.S. Treasury yields, with the yield curve ultimately tending to steepen.
However, if there is a lack of economic data to support expectations for Federal Reserve rate cuts, the market pricing for rate cuts may weaken.
Current inflation remains high, and economic data is not poor enough to prompt the Federal Reserve to cut interest rates, leading to a gradual loss of market confidence in the possibility of rate cuts.
As government debt accumulates, the term premium may rise, putting upward pressure on yields.