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Wall Street played a role in the strategic adjustment of US Treasury Secretary Besant's management of US bonds. Deutsche Bank, Morgan Stanley and Citigroup believed that the US Treasury Department might reduce the size of long-term bond issuance, or release a signal at the quarterly refinancing meeting on November 4 to increase the financing of treasury bonds and shorter term treasury bond bonds and expand repurchase operations. Meghan Swinber, Managing Director of Interest Rate Strategy at Bank of America, stated that the US bond market is entering a new world of debt management.