Bounce Token PriceAUCTION

The latest 20-year U.S. Treasury bond auction disappointed investors, signaling weakening demand for government debt and sparking a negative reaction across financial markets. The highest winning bid rate for the bond reached 5.047%, exceeding the 5% mark for only the second time in history. This rate was 1.2 basis points higher than the pre-auction level of 5.035%, reflecting a significant tail spread and investor hesitancy. In addition, the bid-to-cover ratio—a key measure of demand—fell to 2.46, down from the six-month average of 2.57. This drop suggests that fewer investors were willing to purchase the bonds at prevailing prices. The poor auction results sent ripples through the markets. U.S. stocks and bonds saw a selloff, while the U.S. dollar also weakened. The cautious sentiment spilled over into the crypto markets as well, with major digital assets posting losses: Bitcoin ($BTC ): -1.53% Ethereum ($ETH ): -3.40% Ripple ($XRP ): -2.32% The dismal auction raises fresh concerns about rising borrowing costs for the U.S. government and growing investor unease over the nation's fiscal trajectory. With yields hovering at multi-decade highs, questions are mounting over whether U.S. bonds remain an attractive investment going forward.

U.S. stocks ended mixed Thursday as markets digested the House’s narrow approval of President Trump’s massive tax-and-spending package. The S&P 500 dipped 0.04%, the Dow Jones Industrial Average was flat, and the Nasdaq Composite rose 0.28%. The legislation—projected by the Congressional Budget Office to add nearly $4 trillion to the federal deficit—includes sweeping tax cuts and increased military spending. It passed the House by a single vote after last-minute revisions, including expanded deductions for state and local taxes, aimed at swaying conservative lawmakers. The bill now heads to the Senate. Another spike in Treasury yields tempered investor sentiment. The 30-year bond briefly rose above 5.16%—its highest level since 2023—before easing. The benchmark 10-year yield also pulled back slightly to 4.55%. Analysts said weak demand at Wednesday’s 20-year bond auction fueled the earlier sell-off in Treasurys, while concerns about debt sustainability persist. “Short term, the tax bill is good for the economy,” said Argent Capital’s Jed Ellerbroek. “But in the longer term, it adds to the deficit, and that’s bad for markets.” Bitcoin ( BTC ) extended its massive rally, trading above $111,000, amid optimism over Senate progress on stablecoin regulation and anticipation surrounding a Trump donor event attended by major crypto holders. Bitcoin’s rally sparked limited excitement among derivatives traders compared to past bull runs. Analysts noted that spot market demand, not speculation, drove the gains, with long/short ratios and liquidations indicating moderate bullish sentiment.

Norinchukin Bank announced a loss of approximately $12.6 billion (¥1.8 trillion) for the fiscal year ending March 2025, primarily due to big losses on its holdings of foreign government bonds, especially US Treasuries and European sovereign debt. This didn’t come out of nowhere, since the bank was forecasting a loss of ¥1.9 trillion back in February, with the CEO announcing his resignation. Today, the loss became official. Arthur Hayes, co-founder of BitMEX, commented on the situation , saying that this is an embarrassment and will make others think twice about loading up on treasuries. He also stated: “There goes another price incentive buyer of the doo doo that The BBC needs to sell. All eyes are on the Brrrr button.” His comments are likely referencing the notion that the Federal Reserve might engage in further money-printing to handle fiscal problems, as there are general concerns regarding the global bond market and the looming challenges for the US debt. As for the Norinchukin Bank, its loss is attributed to the devaluation of its foreign bond holdings, particularly US and European government bonds, considering that the global interest rates remained higher than anticipated. The bank had previously held a big portion of its ¥45 trillion ($315.5 billion) portfolio in foreign government bonds as it sought higher yields during Japan’s prolonged period of low interest rates. In response to these losses, apart from the leadership changes, the bank is now focusing more on Japanese government bonds (JGBs), which have become more attractive due to rising domestic interest rates and inflation. Hayes’ statement points to a growing concern about the sustainability of US debt. Recently, it was reported that the 30-year US Treasury yield climbed to 5.089%, which is the highest since October 2023, following a weak 20-year bond auction. Japan didn’t fare better either, if not worse. The country’s 30- and 40-year bond yields reached record intraday (a single trading day) highs due to the Bank of Japan reducing bond purchases, leading to a dramatic sell-off in Japanese bonds. This could mean bad news for the government bonds in the near future, since they were always seen as a traditional safe-haven asset. Still, the stabilization of the financial markets remains a topic of discussion among financial experts, and we’ll see how it all turns out very soon. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

Foreign Participation in the U.S. 30-Year Treasury Auction just fell to its lowest level since AT LEAST 2020 🚨 Probably Fine?

Succinct Releases Prover Network Architecture and PROVE Token Succinct launched the Ethereum-based Prover Network, which aims to build a decentralized zero-knowledge proof market. The network generates proofs for various applications by coordinating distributed provers. The core token PROVE is used to pay and incentivize provers to participate in competitive pricing, and to ensure network security and governance through staking. The network adopts an architecture that combines off-chain auction matching with on-chain settlement to achieve efficient request processing and verifiable network status. PROVE token holders can participate in network governance. Succinct plans to release the testnet Stage 2.5 version in a few weeks, when developers and provers will be able to experience the end-to-end service process.