"Strong Buying Interest in US 10-Year Treasury Bonds... Attention on Bitcoin and Gold Amid $36 Trillion Debt"
Summary
- The auction for 10-year US Treasury bonds recorded high demand, reportedly easing some concerns over US fiscal stability.
- General investors purchased large amounts of 10-year Treasury bonds, drawing attention to investors’ perspectives on US fiscal policy going forward.
- With the US total national debt surpassing $36 trillion, some experts have pointed to Bitcoin alongside gold as a store of value.
Reports indicate that the auction for 10-year US Treasury bonds recorded higher demand than expected, easing concerns about US fiscal soundness.
According to CoinDesk, a US media outlet specializing in virtual assets (cryptocurrencies), the Treasury auction held on the 11th issued $39.2 billion in 10-year bonds, with a bid-to-cover ratio exceeding 2.5 times. The primary dealer absorption rate was only 9%, suggesting that general investors stepped in to buy significant amounts.
A $30 billion auction for 30-year Treasury bonds is scheduled for the 12th. This will serve as an indicator of how investors view US government fiscal policy.
The media stated, "Currently, the total US national debt has surpassed $36 trillion, exceeding 120% of the gross domestic product (GDP). Such a structural debt problem could lead to a fiscal crisis in the long term. Some experts have mentioned Bitcoin alongside gold as a store of value," it added.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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