Deficit Threat Fuels Bond-Yield Surge
2024/10/29
WSJ What’s News
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Anna Maria Andriotis
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Caitlin McCabe
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Gunjan Banerjee
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Jeff Bezos
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Luke Vargas
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Visa
Jeff Bezos: 华盛顿邮报不进行总统候选人背书的决定是为了避免被认为有偏见，并且认为背书并不能影响选举结果。这一决定也导致了订阅用户流失。
Caitlin McCabe: 美国政府债券收益率上升是由于投资者预期无论谁当选总统，预算赤字都将保持高位，这将导致政府需要发行更多债务。美国财政部即将公布的季度借贷计划预计将保持创纪录的大规模债券发行，这将进一步推高债券收益率。
Gunjan Banerjee: 近期科技股的涨势可能存在风险，因为投资者今年大量涌入科技基金，而科技股的涨势并未全面扩展到其他板块。即将公布的苹果和Meta的财报将是检验这一趋势的关键。
Anna Maria Andriotis: Visa 通过与 Apple 达成协议，避免了 Apple Pay 发展成为对其构成竞争威胁的支付网络。Visa 面临着来自美国司法部和商家的诉讼，这些诉讼质疑其反竞争行为，但 Visa 坚称自己是支持竞争的。
Visa: Visa否认与苹果存在协议，禁止苹果开发竞争性支付网络。Visa 坚称其行为符合竞争原则，并为合作伙伴、商家和消费者带来了益处。
Deep Dive
Why are Treasury yields rising?
Investors expect higher deficits regardless of the election outcome, leading to increased government debt issuance.
Why did Visa give concessions to Apple?
To prevent Apple from developing its own card network that could compete with Visa's.
Why did Jeff Bezos defend the Washington Post's decision not to endorse a presidential candidate?
Endorsements create a perception of bias and do not influence the race.
Why is the Supreme Court involved in voting disputes?
Emergency appeals from both parties seek to block or revive certain voting processes.
Why is Visa facing a lawsuit from the DOJ?
The DOJ alleges Visa engages in anti-competitive behavior in the debit card space.
Why is Israel cutting ties with UNRWA?
Israel accuses UNRWA of having ties to Gaza-based militants and seeks to discredit the agency.
The Supreme Court is being dragged into the election through emergency voting appeals in Pennsylvania and Virginia, with concerns over provisional ballots and voter purges.
- Republican National Committee and Pennsylvania officials ask Supreme Court to block counting of provisional ballots.
- Virginia's Republican attorney general seeks to revive a state voter purge that removed alleged non-citizens.
- FBI investigates deliberate fires at ballot drop boxes in the Pacific Northwest.
Shownotes Transcript