The most sensitive moment for U.S. Treasuries: $16 billion long-term bond auction + Federal Reserve minutes, testing the market early tomorrow morning
As the global bond market experiences turbulence, the U.S. market will face two major tests on the same day: a $16 billion 20-year Treasury auction will test long-end demand under a massive deficit, while the Fed's hawkish meeting minutes from July will influence short-end rate hike expectations. If both resonate, it will push the yield curve upward overall, intensifying the pressure risk on overvalued tech stocks and global financial markets.
