U.S. Treasury Auction Sparks Market Decline Amid Foreign Investor Concerns

Binance News · 2025-05-21T19:53:36.000Z

According to BlockBeats, the recent auction of 20-year U.S. Treasury bonds revealed weak demand, leading to a significant downturn in U.S. stocks, bonds, and the dollar. Deutsche Bank analyst George Saravelos interpreted the market's reaction as a clear indication of foreign buyers collectively avoiding U.S. Treasury assets. He noted that foreign investors are no longer willing to finance the U.S. government at current prices. The rising cost of financing is putting pressure on the stock market. Unless there are significant adjustments to the fiscal reconciliation bill proposed by the Republican Party, the value of U.S. Treasuries will need to decrease substantially to attract foreign investors back. As a result of these developments, the S&P 500 index saw its intraday losses widen to 1.5%, the yield on the 10-year U.S. Treasury rose to 4.607%, marking its highest level since February 13, and the dollar index fell by 0.5%.

Menurut BlockBeats, lelang obligasi Treasury AS 20 tahun baru-baru ini menunjukkan permintaan yang lemah, yang menyebabkan penurunan signifikan pada saham, obligasi, dan dolar AS. Analis Deutsche Bank George Saravelos menafsirkan reaksi pasar sebagai indikasi yang jelas bahwa pembeli asing secara kolektif menghindari aset Treasury AS. Ia mencatat bahwa investor asing tidak lagi bersedia membiayai pemerintah AS dengan harga saat ini.
Meningkatnya biaya pembiayaan memberikan tekanan pada pasar saham. Kecuali jika ada penyesuaian signifikan terhadap rancangan undang-undang rekonsiliasi fiskal yang diusulkan oleh Partai Republik, nilai obligasi pemerintah AS perlu turun secara substansial untuk menarik kembali investor asing.
Akibat perkembangan ini, indeks S&P 500 mengalami kerugian intraday yang melebar hingga 1,5%, imbal hasil obligasi pemerintah AS berjangka 10 tahun naik hingga 4,607%, menandai level tertinggi sejak 13 Februari, dan indeks dolar turun hingga 0,5%.

Lelang Obligasi Pemerintah AS Picu Penurunan Pasar di Tengah Kekhawatiran Investor Asing

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