Thị trường trái phiếu cảnh báo về kế hoạch thuế của Trump và đảng Cộng hòa

The Wall Street Journal reported on January 16th that the US bond market has sent a message to the new US Congress: it is no longer 2017. With the Republican Party regaining full control of the government and considering taking on more debt, the fiscal and financial environment it faces is much more challenging than in Trump's first term: interest rates are much higher and the budget deficit is much larger. US government bonds have experienced significant sell-offs in the past few months, making the deficit a bigger burden. In recent days, the sharp drop in bond prices has pushed the benchmark 10-year US Treasury yield to 4.8%, but it has decreased to 4.65% after the latest inflation data was released, which is about 1 percentage point higher than the general 2% yield in 2017. Under the new higher interest rates, borrowing money costs more. For every 0.1 percentage point increase in borrowing costs, it will increase interest expenses by over $300 billion over 10 years.