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Odaily Planet Daily reports that JPMorgan strategists warn that markets may perceive the U.S. Treasury's unexpected attempt to lower long-term financing costs as lacking credibility, potentially pushing up term premiums and bond yields over time. The U.S. Treasury announced on Wednesday that it would at least double the size of its bond repurchase program to provide "greater liquidity support," a move that would lower U.S. long-term bond yields. However, JPMorgan argues that this is merely a stopgap measure: the U.S. economy is nearing full employment, yet still has a 6% fiscal deficit. Strategists including Jay Barry wrote, "Without genuine fiscal consolidation, we worry that markets will perceive this move as lacking credibility. If the Treasury becomes more opportunistic in debt management and further deviates from its 'regular and predictable' principles, this could lead to higher term premiums and yields." The U.S. national debt has surpassed $40 trillion, increasing the difficulty for policymakers to control financing costs, while the U.S. government continues to issue more bonds. A market survey shows that approximately 60% of respondents believe the U.S. debt situation will continue to worsen until it triggers a major crisis. (Jinshi)

According to Odaily Planet Daily, market data shows that gold stocks continue to strengthen, with several gold stock ETFs, including Guotai, Huaxia, and ICBC, rising by more than 6%.