Treasury yields surge as banks rethink climate and cyber threats emerge

Weekly digest | By Marina Mouka

Welcome to The Global Treasurer's latest Digest, your go-to source for the week's top insights and updates tailored for treasury professionals. What are the most popular articles from this week? We've put together a list, so you never miss out. In this issue, you'll find:

• U.S. Treasury Yields Surge Amid Debt Concerns: Treasury yields spike as a $119 billion issuance and inflation fears test market resilience and investor sentiment.
• JPMorgan Exits Net Zero Alliance: JPMorgan and other U.S. banks leave the NZBA, shifting to independent low-carbon initiatives amid political scrutiny.
• Treasury Cyberattack Contained: CISA confirms no wider federal impact from a Treasury cyberattack linked to Chinese state-sponsored actors, highlighting third-party vulnerabilities.

We’re here to ensure you stay informed, inspired, and ready to tackle the week ahead.

TOP READS

NEWS

U.S. Treasury Yields Surge Amid $119 Billion Debt Issuance

U.S. Treasury yields surged, with the 30-year yield hitting 4.85%, ahead of a $119 billion debt issuance, reflecting market concerns over inflation and fiscal policy. Speculation around the incoming Trump administration’s potential tax cuts and tariffs has fueled inflation fears, constraining expectations of Federal Reserve rate cuts in 2025. Upcoming economic indicators, including Nonfarm Payrolls, will shape investor sentiment, while banks face subdued treasury income due to volatile rate movements. Rising government borrowing continues to test the resilience of U.S. Treasuries, keeping market dynamics under close watch. Read More

NEWS

JPMorgan joins major U.S. banks in exiting the NZBA

JPMorgan Chase has joined other major U.S. banks, including Bank of America and Citigroup, in leaving the Net Zero Banking Alliance (NZBA), citing a preference for independent efforts to support low-carbon technologies and energy security. The exits come amid rising political and regulatory scrutiny, particularly from Republican lawmakers concerned about financial institutions’ role in climate policy. Despite withdrawing from the NZBA, JPMorgan will remain part of the broader Glasgow Financial Alliance for Net Zero (GFANZ), which is now refocusing on mobilizing climate finance through public-private partnerships. Read More

NEWS ANALYSIS

CISA Confirms No Wider Federal Impact from Treasury Cyberattack

The U.S. Cybersecurity and Infrastructure Security Agency (CISA) has confirmed that the Treasury Department cyberattack, attributed to Chinese state-sponsored actors, has not affected other federal agencies. The breach, involving BeyondTrust’s Remote Support SaaS platform, exploited a compromised API key to access non-classified Treasury systems. While the incident underscores vulnerabilities in third-party cybersecurity infrastructures, Treasury officials emphasize the importance of safeguarding federal systems. Recent sanctions target Chinese firms accused of supporting similar cyber campaigns, reflecting ongoing risks to global financial and government systems. Read More

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