周五（6月20日）纽约尾盘，美国10年期基准国债收益率跌1.57个基点，报4.3751%，本周累计下跌7.11 个基点，一直处于下跌状态，整体交投于4.4443%-4.3377%区间。 两年期美债收益率跌3.337个基点，报3.9077%，本周累跌5.87个基点，整体交投于3.9749%-3.8824%区 间，仅仅在周一美股开盘之后短暂上涨，周三美联储宣布FOMC连续四次按兵不动、披露（含利率预期 点阵图的）经济预期概要（SEP）"急剧"下挫至本周最低位。 ...

Core Viewpoint - The German bond market is experiencing fluctuations, with a general downward trend in yields across various maturities, indicating changing investor sentiment and market conditions [1]. Summary by Category Bond Yields - The yield on the 10-year German government bond decreased by 0.4 basis points to 2.517%, with a total decline of 1.8 basis points for the week, trading within a range of 2.589% to 2.486% [1]. - The 2-year German bond yield increased by 0.8 basis points to 1.850%, with a cumulative decline of 0.6 basis points for the week, trading between 1.890% and 1.822% [1]. - The 30-year German bond yield remained unchanged at 2.972%, with a total decline of 1.5 basis points for the week [1]. Yield Spread - The spread between the 2-year and 10-year German bond yields decreased by 1.178 basis points to +66.520 basis points, with a cumulative decline of 1.021 basis points for the week [1].

美联储理事Waller讲话之后，美国2年期国债收益率回吐涨幅。 ...

美联储理事沃勒的讲话后，美国两年期国债收益率回吐此前的涨幅。 ...

Core Viewpoint - The Japanese Ministry of Finance plans to significantly reduce the issuance of super-long-term government bonds due to unprecedented fluctuations in yields, exceeding earlier media reports [1][2] Group 1: Issuance Reduction Details - The total issuance of 20-year, 30-year, and 40-year bonds will be reduced by 3.2 trillion yen (approximately 22 billion USD) for the fiscal year ending March 2026, surpassing the previously expected reduction of 2.3 trillion yen [1][2] - Specifically, the issuance of 20-year bonds will decrease by 1.8 trillion yen to 10.2 trillion yen, which is double the amount reported earlier [2] - The issuance of 30-year bonds will be reduced by 900 billion yen to 8.7 trillion yen, and the issuance of 40-year bonds will decrease by 500 billion yen to 2.5 trillion yen [2] Group 2: Short-term Debt Adjustments - To compensate for the reduction in long-term debt issuance, the Ministry of Finance is considering increasing the issuance of short-term debt, particularly six-month bonds [1] - The overall issuance of Japanese government bonds for the fiscal year will see a slight decrease of 500 billion yen, totaling 171.8 trillion yen [1] - The issuance of 2-year bonds will increase by 600 billion yen to 31.8 trillion yen, and the issuance of 1-year bonds will rise by 300 billion yen to 38.7 trillion yen [2] - The issuance of six-month bonds will see a significant increase of 1.8 trillion yen to 4.2 trillion yen [2] Group 3: Market Context - The adjustments come amid severe volatility in the Japanese bond market, with rising yields causing global market reactions [1] - Recent concerns regarding Japan's fiscal situation have intensified selling pressure, particularly after weak auction demand led to a spike in yields for 30-year and 40-year bonds [1]

Core Viewpoint - The Japanese Finance Minister, Kato Katsunobu, has noted a significant rise in the yields of ultra-long-term government bonds [1] Group 1 - The recent increase in ultra-long-term government bond yields indicates a shift in the financial landscape in Japan [1]

周四（6月19日）欧市尾盘，法国10年期国债收益率涨6.0个基点，报3.273%，全天处于W形上涨状态， 北京时间20:57回落至3.240%刷新日低，随后涨幅显著扩大。 意大利10年期国债收益率涨7.6个基点，报3.523%，全天处于上涨状态，20:56回落至3.478%刷新日低， 随后涨幅加速扩大。 西班牙10年期国债收益率涨5.0个基点，报3.177%。 希腊10年期国债收益率涨6.6个基点，报3.323%。 ...

Core Viewpoint - The yield spread between French and German 10-year government bonds has widened to 74 basis points, reaching the highest level since April [1] Group 1 - The increase in the yield spread indicates a growing divergence in the perceived credit risk and economic outlook between France and Germany [1] - The current yield spread of 74 basis points reflects market sentiment and investor confidence in the respective economies [1] - This development may influence investment strategies and capital flows within the Eurozone [1]

Group 1 - The yield spread between French and German 10-year government bonds has widened to 74 basis points, marking the largest increase since April of this year [1]

两年期英国国债转涨，收益率升至3.88%。 ...