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政府債務拍賣陷入波動,因為財政刺激措施在固定收益市場引發漣漪。長期債券——特別是20年期——的競標需求明顯較過去12個月的表現為弱。旨在減輕消費者負擔的稅收減免方案最終動搖了投資者對債務市場的信心,顯示政策轉向如何超出預期影響資本市場。