Core Viewpoint - US Treasury yields increased across the board on September 19, with notable rises in short and long-term bonds [1] Summary by Category Treasury Yields - The 2-year Treasury yield rose by 1.22 basis points to 3.567% [1] - The 3-year Treasury yield increased by 0.88 basis points to 3.550% [1] - The 5-year Treasury yield saw a rise of 1.92 basis points, reaching 3.677% [1] - The 10-year Treasury yield climbed by 2.49 basis points to 4.125% [1] - The 30-year Treasury yield increased by 2.25 basis points, now at 4.743% [1]

Group 1 - The core point of the article highlights the increase in U.S. Treasury yields following the Federal Reserve's announcement of a rate cut and the potential for further cuts within the year [1] - The 10-year benchmark Treasury yield rose by 2.30 basis points to 4.1274%, with a cumulative increase of 6.31 basis points for the week [1] - The two-year Treasury yield increased by 0.80 basis points to 3.5715%, with a total rise of 1.59 basis points for the week [1] Group 2 - The 20-year Treasury yield saw a cumulative increase of 6.68 basis points, reaching 4.7125% [1] - The 30-year Treasury yield rose by 6.33 basis points, now at 4.7438% [1] - Other maturities also experienced increases, with the three-year yield up by 2.59 basis points, five-year yield up by 4.35 basis points, and seven-year yield up by 5.66 basis points [1]

Core Viewpoint - US Treasury yields collectively increased on September 18, with notable rises across various maturities [1] Summary by Category Treasury Yields - The 2-year Treasury yield rose by 1.03 basis points to 3.555% [1] - The 3-year Treasury yield increased by 0.84 basis points to 3.542% [1] - The 5-year Treasury yield went up by 0.52 basis points to 3.658% [1] - The 10-year Treasury yield climbed by 1.15 basis points to 4.101% [1] - The 30-year Treasury yield saw a rise of 3.02 basis points to 4.720% [1]

Group 1 - The Federal Reserve's "dot plot" indicates two more rate cuts of 25 basis points each this year, lowering the policy rate range to 4.00%-4.25%, which is more dovish than previous expectations, suggesting a relief from stagflation risks [1] - The latest economic forecast shows a year-end inflation rate median of 3%, above the 2% target but unchanged from the previous quarter; the unemployment rate is expected to remain stable at 4.5%, and economic growth is slightly increased from 1.4% to 1.6% [1] - The Federal Reserve is shifting its view on the temporary impact of Trump's tariffs on inflation, prioritizing the prevention of economic slowdown and rising unemployment, which provides a more favorable environment for non-yielding assets like gold [1] Group 2 - On the day of reporting, the Shanghai gold price fell by 1.78%, closing at 824.1 yuan per gram [3] - According to GF Futures, the market interpreted the Federal Reserve's rate decision as neutral, with the dollar index rebounding after a decline; since September, precious metal prices have rapidly surged and reached new highs, indicating overbought conditions [4] - The outlook suggests that with increasing risks in the U.S. job market, the Federal Reserve's policy path exhibits dual characteristics of "strengthened expectations and compromised independence," which continues to suppress the dollar index and U.S. Treasury yields [4]

（文章来源：每日经济新闻） 每经AI快讯，周三（9月17日），美债收益率集体上涨，2年期美债收益率涨4.99个基点报3.545%，3年 期美债收益率涨6.40个基点报3.533%，5年期美债收益率涨6.77个基点报3.652%，10年期美债收益率涨 6.12个基点报4.089%，30年期美债收益率涨3.86个基点报4.690%。 ...

Core Viewpoint - Concerns about a potential rise in long-term U.S. Treasury yields following a 50 basis point rate cut by the Federal Reserve in September 2024 are present, but the risk of this scenario repeating is limited this time [1] Group 1 - Dario Messi, head of the fixed income department at Swiss Bank Pictet, indicates that while there are reasonable arguments for a rise in yields, the current starting point provides more buffer against such developments [1] - The current yield on the 10-year U.S. Treasury is higher than the level at which the Federal Reserve is expected to begin cutting rates in September 2024 [1]

Group 1 - The core viewpoint of the article highlights the market's anticipation of upcoming retail sales data and the Federal Reserve's interest rate decision, with expectations leaning towards a 25 basis point rate cut [1] - Konstantinos Chrysikos from Kudotrade indicates that weak retail sales data could support further easing policies, potentially putting pressure on bond yields and the dollar [1] - The labor market data is showing signs of rapid deterioration, leading the market to increasingly price in expectations for rate cuts not only in September but also in October and December [1]

Group 1 - The market has fully priced in the expectation of a 25 basis point rate cut by the Federal Reserve this week [1] - The U.S. Court of Appeals rejected Trump's request to remove Fed Governor Cook, clearing the way for Cook to attend this week's Fed meeting, which may witness internal divisions within the Fed [1] - U.S. Treasury yields have declined, the U.S. dollar index has fallen, and cryptocurrencies have experienced widespread declines, while gold has reached a new high and oil prices have increased [1] Group 2 - The mainland stock market has risen, with Hong Kong's consumer discretionary, energy, and staple consumer sectors leading the gains, while materials, conglomerates, and real estate construction sectors have declined [1] - Biotech, lithium batteries, and smart terminals have performed well, with southbound funds net buying 14.473 billion HKD [1] - In A-shares, electric equipment, media, and agriculture sectors have seen the largest increases, while conglomerates, telecommunications, and defense industries have declined [1] Group 3 - Non-metallic building materials, energy, and iron ore prices have risen, while the yield on RMB government bonds has slightly increased, and the RMB has appreciated slightly [1]

每经AI快讯，周一（9月15日）纽约尾盘，美国10年期国债收益率跌2.87个基点，报4.0356%。两年期美 债收益率跌2.10个基点，报3.5347%。20年期美债收益率跌2.84个基点，30年期美债收益率跌2.60个基 点。 三年期美债收益率跌3.05个基点，五年期美债收益率跌3.12个基点，七年期美债收益率跌3.08个基点。 （文章来源：每日经济新闻） ...

Core Viewpoint - The U.S. Treasury yields experienced a decline across various maturities, indicating a shift in market sentiment and potential implications for investment strategies [1] Summary by Category Treasury Yields - The 10-year U.S. Treasury yield fell by 2.87 basis points to 4.0356%, with a trading range of 4.0853% to 4.0280% during the day [1] - The 2-year Treasury yield decreased by 2.10 basis points to 3.5347% [1] - The 20-year Treasury yield dropped by 2.84 basis points, while the 30-year yield fell by 2.60 basis points [1] - The 3-year Treasury yield declined by 3.05 basis points, the 5-year yield decreased by 3.12 basis points, and the 7-year yield fell by 3.08 basis points [1] Yield Spread - The yield spread between the 2-year and 10-year Treasury yields decreased by 0.568 basis points, now at +49.885 basis points [1] TIPS Yields - The yield on the 10-year Treasury Inflation-Protected Securities (TIPS) fell by 2.83 basis points [1] - The 2-year TIPS yield increased by 0.64 basis points, while the 30-year TIPS yield decreased by 2.14 basis points [1]