The Fed kembali melakukan pelonggaran kuantitatif di tengah lonjakan penerbitan utang

Federal Reserve telah memulai kembali pelonggaran kuantitatif setelah berakhirnya pengetatan, dengan menambahkan puluhan miliar ke neraca keuangannya dalam beberapa bulan terakhir.

Bank sentral tersebut menambahkan $43 miliar pada bulan Maret dan April sebelum menambah $4 miliar lagi pada bulan Mei. Pergeseran ini terjadi seiring dengan Departemen Keuangan yang telah menerbitkan utang baru senilai hampir $4 triliun selama 18 bulan terakhir, dengan pembeli internasional hanya menyerap sekitar 10 persen dari total tersebut.

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Bitcoin remains near $65,000 as tensions with Iran boost oil and yields, with strong ETF inflows.
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Bitcoin holds near $65,000 as Iran tensions lift oil and yields

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Bitcoin traded around $65,000 on Thursday as escalating U.S.-Iran conflict drove oil prices higher and pushed Treasury yields to multi-month peaks. Spot Bitcoin ETFs drew nearly $1 billion in inflows over seven sessions. Grayscale Research said the price may have already bottomed.

The Federal Reserve has cut interest rates multiple times since late 2024, yet long-term borrowing costs have remained elevated as bond markets no longer follow the central bank's lead.

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Tokenized U.S. Treasuries climbed to a new high of 15.35 billion dollars in value locked on May 13. Bitcoin held above 80,000 dollars but showed limited upside as traders weighed rising odds of a Federal Reserve rate increase. The shift comes ahead of key inflation data and political meetings.

The Chilean government proposed this week to seek legislative authorization to issue US$6.2 billion in public debt in 2026 to cover expenses mandated by law.

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Rising US Treasury yields reached 5.18 percent on May 20, pressuring Bitcoin prices below $80,000. Spot Bitcoin ETFs recorded net outflows of about 14,000 BTC in the latest week.

Crescat Capital has published analysis warning of persistent inflation driven by US fiscal imbalances.

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The Federal Reserve left its benchmark interest rate unchanged at 3.50%-3.75% on Wednesday in the first policy decision under new Chair Kevin Warsh. Policymakers signaled a more hawkish stance by raising projections for rates and inflation through 2028. Bitcoin and major stock indexes slipped after the announcement.

 

 

 

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