J.P. Morgan strategists Jay Barry and Pankaj Vohra said in the report that the scale of US treasury note issuance is expected to continue to expand — the market will still need to absorb $991 billion in net treasury note supply in 2027 — so the key question is whether demand can keep up with supply. “We think there's some resistance on this side,” the strategist wrote. They expect that the pace of growth in the scale of money market fund asset management will be roughly the same as when large-scale capital flows in 2024 or 2025, unless there is a major market turmoil similar to the impact of the 2020 pandemic or pressure on the regional banking sector in 2023.
Zhitongcaijing · 1d ago
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J.P. Morgan strategists Jay Barry and Pankaj Vohra said in the report that the scale of US treasury note issuance is expected to continue to expand — the market will still need to absorb $991 billion in net treasury note supply in 2027 — so the key question is whether demand can keep up with supply. “We think there's some resistance on this side,” the strategist wrote. They expect that the pace of growth in the scale of money market fund asset management will be roughly the same as when large-scale capital flows in 2024 or 2025, unless there is a major market turmoil similar to the impact of the 2020 pandemic or pressure on the regional banking sector in 2023.
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