On January 7, 2026, the U.S. Treasury market showed muted reaction to U.S. intervention in Venezuela, with traders focusing more on the non-farm payroll report for December 2025 released on Friday and the U.S. Supreme Court's ruling on the legality of Trump's global tariffs.



The current 10-2 year Treasury yield spread has reached a 9-month high, reflecting market expectations for Fed rate cuts in 2026.

Non-farm data will influence interest rate expectations, which will in turn affect cryptocurrency asset prices; the inflation-growth contradiction brought by the tariff ruling will also impact the crypto market through liquidity changes.

Geopolitical events are viewed as noise due to their difficulty in reversing global liquidity trends, with macroeconomic data and policy rulings becoming the market's core focus.
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