【2024-04-26 14:01】4月26日消息，BitMEX联合创始人Arthur Hayes在社交媒体上发文指出，随着美国财政部预计税收将为财政总账户(TGA)增加约2000亿美元，美国财政部长Janet Yellen有望在下周公布2024年第二季度的国债发行计划，从而为市场注入大量流动性。
Hayes提出了三种可能的选择：一是停止国债发行，将TGA降至零，从而为市场注入1万亿美元的流动性；二是将更多借款转移到短期国库券，从而从隔夜逆回购工具（RRP）中抽走4000亿美元，为市场注入流动性；三是综合前两种做法，不再发行长期债券，仅发行短期国库券，同时消耗TGA和RRP，这将为市场注入1.4万亿美元的流动性。
The user prefers the assistant to act as a news commentator, providing in-depth analysis of news content, expressing unique insights, and accurately assessing the impact of news on the cryptocurrency industry.Arthur Hayes, BitMEX's co-founder, recently shared insights on social media regarding potential developments in the US Treasury and their implications for the market and the cryptocurrency industry.
Here's a structured analysis:
### Context:
On April 26th, Arthur Hayes discussed the upcoming actions of the US Treasury, particularly related to the Treasury General Account (TGA) and potential liquidity injections into the market.
### Key Points:
1. **US Treasury's Revenue Increase:** The US Treasury is expected to see a revenue increase of approximately $200 billion, impacting the TGA significantly.
2. **Janet Yellen's Potential Announcement:** Treasury Secretary Janet Yellen is likely to announce the second-quarter 2024 debt issuance plan next week, which could have substantial market liquidity implications.
### Hayes' Proposed Options:
Hayes outlined three potential choices:
1. **Halting Debt Issuance:** Stop issuing long-term bonds to bring the TGA balance to zero, injecting $1 trillion liquidity into the market.
2. **Shifting Borrowing to Short-Term Treasuries:** Move more borrowing to short-term Treasury securities, withdrawing $400 billion from overnight reverse repurchase agreements (RRP), thus injecting liquidity.
3. **Combination Approach:** A hybrid strategy involving both the above options, discontinuing long-term bond issuance, issuing only short-term Treasury securities, while depleting TGA and RRP, injecting $1.4 trillion liquidity into the market.
### Potential Impact on Cryptocurrency:
These actions could have significant implications for the cryptocurrency industry, particularly regarding market liquidity, investor sentiment, and capital flows into digital assets. The increased liquidity injection might lead to heightened market activity and potentially impact cryptocurrency valuations.
Hayes' insights highlight the interconnectedness between traditional financial strategies and emerging digital asset markets, showcasing the importance of monitoring macroeconomic developments for cryptocurrency stakeholders.
Would you like to delve deeper into any specific aspect or discuss further insights? 
原创文章，作者：海博社，如若转载，请注明出处：https://www.23btc.com/11573/
