Group 1 - The yield on German 10-year government bonds has increased by 5 basis points to 2.53% [1]

德国国债收益率全线下跌3-5个基点，10年期收益率一度下跌5个基点至2.42%，为3月4日以来的最低水 平。 ...

德国10年期国债收益率下跌4.3个基点至2.435%，为4月7日以来最低水平。 ...

Core Viewpoint - Demand for 30-year U.S. Treasury bonds is strong, helping to push yields below the critical 5% level [1] Group 1: Auction Insights - The recent auction of 30-year Treasury bonds by the U.S. Treasury was well-received, indicating robust demand [1] - This auction is significant in light of the unusual price movements observed in the long end of the U.S. Treasury yield curve over the past few months [1] - The results of the auction help alleviate concerns regarding a decline in demand for long-term U.S. Treasuries [1] Group 2: Market Context - The status of U.S. Treasuries as a safe-haven asset has been challenged recently, making the auction results particularly important [1]

Group 1 - The yield on India's 10-year government bonds increased by 3 basis points to 6.37% [1] - The Indian Rupee depreciated by 0.7% against the US Dollar [1] - The rise in oil prices is cited as a contributing factor to these financial movements [1]

Report Overview - Report Title: "大类资产早报" - Report Date: June 13, 2025 - Author: Research Center Macro Team 1. Global Asset Market Performance 1.1 Main Economies' 10 - Year Treasury Yields - On June 12, 2025, yields in the US, UK, France, etc. were 4.361%, 4.475%, 3.180% respectively. Latest changes ranged from -0.061 (US) to 0.002 (China). One - year changes varied, with the UK up 0.255 and Italy down 0.475 [3]. 1.2 Main Economies' 2 - Year Treasury Yields - On June 12, 2025, yields in the US, UK, Germany, etc. were 4.010%, 3.861%, 1.810% respectively. Latest changes ranged from -0.046 (UK) to 0.072 (South Korea). One - year changes also showed differences, like the US down 0.910 and Japan up 0.349 [3]. 1.3 US Dollar to Main Emerging Economies' Currency Exchange Rates - On June 12, 2025, the exchange rate against the Brazilian real was 5.537. Latest changes were from -0.93% (South Korean won) to 0.26% (South African rand). One - year changes showed the Brazilian real up 5.56% and the South African rand down 3.99% [3]. 1.4 Main Economies' Stock Indexes - On June 12, 2025, the S&P 500 was at 6045.260. Latest changes were from -0.74% (German DAX) to 0.38% (S&P 500). One - year changes were significant, such as the German DAX up 27.75% and the French CAC down 2.91% [3]. 1.5 Credit Bond Indexes - On June 12, 2025, the US investment - grade credit bond index was 3392.930. Latest changes were from -0.02% (Eurozone high - yield credit bond index) to 0.43% (US investment - grade credit bond index). One - year changes were positive across the board, with the emerging economies' high - yield credit bond index up 13.14% [3][4]. 2. Stock Index Futures Trading Data 2.1 Index Performance - The closing prices of A - shares, CSI 300, etc. were 3402.66, 3892.20 respectively. The daily percentage changes were from -0.06% (CSI 300) to 0.26% (ChiNext) [5]. 2.2 Valuation - The PE (TTM) of CSI 300, SSE 50, etc. were 12.78, 10.90 respectively. The环比 changes were from -0.15% (German DAX) to 0.03% (CSI 500) [5]. 2.3 Risk Premium - The 1/PE - 10 - year interest rate of the S&P 500 was -0.47, with a环比 change of 0.05%. The German DAX was 2.44, with a环比 change of 0.09% [5]. 2.4 Fund Flows - The latest values of A - shares, the main board, etc. were -433.46, -411.02 respectively. The 5 - day average values also showed different trends [5]. 2.5 Trading Volume - The latest trading volumes of the Shanghai and Shenzhen stock markets, CSI 300, etc. were 12717.69 billion, 2602.40 billion respectively. The环比 changes were from 16.02 (Small and Medium - sized Board) to 180.87 (ChiNext) [5]. 2.6 Main Contract Premium or Discount - The basis of IF, IH, IC were -8.60, -9.08, -19.93 respectively. The percentage changes were -0.22%, -0.34%, -0.34% respectively [5]. 3. Treasury Bond Futures Trading Data - The closing prices of T00, TF00, etc. were 108.850, 105.880 respectively. The daily percentage changes were from -0.03% (TF00) to 0.05% (T01) [6]. - The R001, R007, SHIBOR - 3M were 1.4348%, 1.5820%, 1.6390% respectively. The daily changes in basis points were from -13.00 (R001) to 0.00 (SHIBOR - 3M) [6].

日本20年期国债收益率下跌3个基点，至2.365%。 ...

Core Viewpoint - The yield on Japan's 5-year government bonds has decreased by 5 basis points to 0.96%, marking the lowest level since May 12 [1] Group 1 - The decline in the 5-year bond yield indicates a potential shift in investor sentiment towards safer assets [1] - The current yield level reflects ongoing economic conditions and monetary policy considerations in Japan [1]

美国国债全线上涨，10年期国债收益率下跌4个基点至4.32%。 ...

Core Viewpoint - The U.S. 10-year Treasury yield decreased by 6.11 basis points, closing at 4.3592%, indicating a downward trend throughout the day [1] Group 1: Treasury Yields - The 10-year Treasury yield traded within a range of 4.4184% to 4.3396% during the day [1] - The 2-year Treasury yield fell by 4.38 basis points, ending at 3.9077%, with intraday trading between 3.9494% and 3.8743% [1] Group 2: Economic Indicators - The decline in yields occurred ahead of the release of the U.S. employment weekly report and PPI at 20:30 Beijing time, which caused a sharp drop in yields [1]