This year marks the peak of U.S. Treasury bond maturities, with nearly $9.2 trillion in bonds set to mature, including $6 trillion in June (last year only saw over $1 trillion). All $9.2 trillion need to be resold to buyers and have their interest recalculated.

Trump needs to lower the yield on government bonds before June, by any means necessary, or he will have to pay much more in interest.

In other words, if the yield on the U.S. ten-year Treasury bonds remains high, Trump's policies may lean towards being moderate, and a moderate tariff policy would be good for the investment market.

That's roughly the logic behind it. #关税