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1.14859
0.096%
Gold
4376.53
0.805%
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95.469
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156.726
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1.33935
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Real-time News
On September 20th, Minneapolis Federal Reserve President Neal Kashkari stated that U.S. inflation remains excessive, with pressures extending beyond the oil price shock caused by the Iran war and spreading to multiple sectors of the economy. The inflation felt daily by Americans is far more than just an oil price issue; it permeates all aspects of the economy. Kashkari indicated that the Fed is increasingly concerned that inflation is not only concentrated in sectors affected by Middle East conflicts or tariffs, but also showing signs of inflation in the service sector. He stated that the Feds responsibility is to bring inflation back to its target level and that it has the tools to achieve this. Kashkari was one of three opponents in the July decision to keep interest rates unchanged, at which time he favored raising rates and warned that waiting too long could lead to entrenched inflation, ultimately requiring more aggressive measures. Kashkari believes that the U.S. economy, despite facing geopolitical conflicts and trade issues, has demonstrated strong resilience, with a robust labor market. He hopes that as some of the conflicts impact gradually fades, economic growth can take over as a driving force, accelerating the cooling of inflation and thus reducing policy pressure on the Fed.Iranian President Peshizian: We welcome any dialogue that can bring lasting security and peace, and in this process we need to have common goals.September 20 - According to a report by Fox News on the 20th, US President Trump stated in a telephone interview that the US has been in communication with the Houthi rebels in Yemen, and the Houthis have agreed not to engage in war with the US.On September 20th, according to the Financial Times, Wall Street banks predict that the US will borrow approximately $1 trillion in short-term Treasury bonds over the next year to meet growing government financing needs. Bank of America projects that in the new fiscal year ending September 2027, the US will borrow approximately $1.07 trillion, excluding debt maturities; JPMorgan Chase projects approximately $1.09 trillion in short-term Treasury bond issuance in 2027, and Goldman Sachs projects $961 billion. This increase in short-term debt issuance comes as long-term borrowing costs in the US have risen to their highest level since 2007, prompting Treasury Secretary Scott Bessant to seek to lower long-term interest rates by expanding repurchase agreements for 10- to 30-year Treasury bonds. Bank of America projects that by next September, outstanding short-term Treasury bonds will rise to approximately $8 trillion, representing 24.3% of tradable Treasury bonds; Goldman Sachs projects this ratio to be 24.3% next year and rising to 24.9% in 2028. This level is close to the peak during the pandemic, while the US Treasury Borrowing Advisory Committee previously recommended maintaining a long-term short-term debt ratio of approximately 20%. Analysts say that increasing short-term debt issuance helps lower current financing costs, but it also increases future refinancing risks. Mark Cabana, head of interest rate strategy at Bank of America, said the Treasury is balancing supply and demand in the bond market, but large-scale issuance of short-term debt could lead to "larger and more volatile" interest payments. Meanwhile, the Federal Reserve has purchased a large amount of short-term Treasury bonds this year, and the approximately $8 trillion in assets in money market funds also provides demand support for short-term debt.Qatar Energy CEO: Some of Qatar Energy’s expansion projects may be delayed due to the Hormuz crisis preventing the delivery of some key equipment to Qatar.
