#美国国债 The US Treasury bonds are an important tool in the global financial market, and their price fluctuations are influenced by various factors. On May 22, 2025, due to Moody's downgrade of the US sovereign credit rating, the US Treasury conducted its first auction of long-term bonds, attracting widespread market attention. The 20-year Treasury bond yield surged during the auction, reaching 4.5%, a change that reflects market concerns about the US economic outlook.