美国债市：国债下跌 5年期拍卖疲软与期货大宗卖盘施压

Core Viewpoint - US Treasury bonds experienced a slight decline on Wednesday, primarily pressured by significant sell-offs in classic and long-term Treasury futures, along with weak demand in the 5-year Treasury auction [1][2]. Group 1: Market Performance - US Treasury yields rose by 1 to 2.5 basis points, with mid-term bonds leading the decline despite a reduction in the previously observed flattening of the yield curve towards the end of the trading session [1][2]. - The 5-year Treasury auction, amounting to $70 billion, saw a slight increase in yields, with the auction's bid-to-cover ratio indicating a higher allocation to primary dealers at 12.8%, the highest since March 2025 [1][2]. Group 2: Yield Rates - As of 3:58 PM Eastern Time, the yield rates for various maturities were as follows: 2-year at 3.4689%, 5-year at 3.6187%, 10-year at 4.048%, and 30-year at 4.6923% [3]. - The yield spread between the 2-year and 10-year Treasuries was reported at 57.71 basis points, while the spread between the 5-year and 30-year Treasuries was at 107.19 basis points [3].