Affected by the Federal Reserve's reduction in treasury bond holdings since 2022, there has been significant friction in the US Treasury bond market recently. According to the latest data, the scale of failed delivery of 10-year US Treasury bonds this month soared to the highest level in eight years, highlighting the imbalance between supply and demand for critical term US bonds in the repurchase market.

Affected by the Federal Reserve's reduction in treasury bond holdings since 2022, there has been significant friction in the US Treasury bond market recently. According to the latest data, the scale of failed delivery of 10-year US Treasury bonds this month soared to the highest level in eight years, highlighting the imbalance between supply and demand for critical term US bonds in the repurchase market.