周二(5月27日)欧市尾盘，英国10年期国债收益率跌1.5个基点，报4.666%，长周末归来，"跳空低开"至 4.602%，随后逐步回升。两年期英债收益率涨3.8个基点，报4.020%，日内大部分时间高位窄幅震荡。 30年期英债收益率跌4.4个基点，50年期英债收益率跌3.7个基点。2/10年期英债收益率利差跌5.27个基 点，报+64.34个基点。 ...

Group 1 - The 10-year Japanese government bond yield has decreased by 5 basis points to 1.455% [1] - The 20-year Japanese government bond yield has seen a larger decline of 13.5 basis points [1] - Sources indicate that the Japanese Ministry of Finance is considering adjustments to the current fiscal year's bond issuance plan, which may include a reduction in the issuance of ultra-long-term bonds [1]

20年期日本国债收益率持续下跌，现跌10个基点至2.405%。 ...

Core Viewpoint - In the absence of support from the Bank of Japan, the yield curve of Japanese government bonds may continue to steepen, influenced by recent adverse factors and upcoming fiscal measures [1] Group 1: Economic Factors - The ruling coalition in Japan may announce fiscal measures, such as cost-of-living subsidies, before the July Senate elections, potentially worsening Japan's fiscal situation [1] - Recent statements from Japanese life insurance companies indicate plans to reduce their holdings of Japanese government bonds, contributing to the steepening yield curve [1] Group 2: Future Outlook - The clarity of Japan's fiscal policy trajectory and the Bank of Japan's bond purchasing plans will be crucial for stabilizing the long-term yield curve in the coming weeks [1]

Group 1 - Japan's Finance Minister Kato Katsunobu approved a reserve fund of 300 billion yen to support the economy, with 288 billion yen allocated for gas and electricity subsidies [1] - The Minister did not comment on the trend of Japanese government bond yields, stating that yields are determined by multiple factors and that rising yields will not undermine the stability of bond auctions [1] - The focus will be on market trends, including ultra-long-term government bond yields [1]

30年期日本国债收益率下跌9个基点，至2.945%。40年期日本国债收益率下跌10个基点，至3.435%。10 年期日本国债收益率下降2个基点，至1.485%。 ...

周一（5月26日）北美尾盘，加拿大10年期基准国债收益率跌2.5个基点，两年期加债收益率跌0.50个基 点，五年期加债收益率跌2.3个基点。 加拿大标普/TSX综合指数收涨0.75%，报26073.13点，突破5月20日所创收盘历史最高位；小盘股指收涨 1.21%，报857.88点，突破2022年4月13日所创收盘历史最高位850.25点。 ...

Group 1 - The core viewpoint of the article highlights the fluctuations in German bond yields following President Trump's announcement to suspend EU tariffs until July, indicating a lack of reliability and stability in this approach [1] - The 10-year German bond yield decreased by 0.7 basis points to 2.560%, while the U.S. bond yield initially rose to 2.609% before experiencing a downward trend [1] - The 2-year German bond yield increased by 1.8 basis points to 1.782%, maintaining an upward trajectory throughout the day [1] Group 2 - The 30-year German bond yield fell by 2.3 basis points to 3.065%, reflecting a broader trend in the bond market [1] - The yield spread between the 2-year and 10-year German bonds decreased by 2.419 basis points, now at +77.622 basis points [1] - The UK bond market was closed during this period, indicating a potential impact on overall market dynamics [1]

Core Viewpoint - European bond yields experienced a decline on May 26, with notable decreases in France, Italy, Spain, and Greece, indicating a potential shift in investor sentiment towards safer assets [1] Group 1: France - The yield on French 10-year government bonds fell by 2.2 basis points to 3.240%, with a trading range of 3.296% to 3.235% during the day [1] Group 2: Italy - Italian 10-year government bond yields decreased by 2.9 basis points to 3.556%, with a trading range of 3.624% to 3.551% [1] Group 3: Spain - Spanish 10-year government bond yields dropped by 1.4 basis points to 3.179% [1] Group 4: Greece - Greek 10-year government bond yields fell by 2.2 basis points to 3.298% [1]

Core Viewpoint - The upcoming U.S. Treasury auctions will be a critical variable for market dynamics, as strong demand could lower yields and support the dollar, while weak demand may raise concerns about U.S. debt and weaken the dollar [1] Auction Details - The U.S. is scheduled to auction $69 billion in two-year notes on Tuesday, $70 billion in five-year notes on Wednesday, and $44 billion in seven-year notes on Thursday [1] - Strong demand in these auctions could alleviate market anxiety, potentially leading to a decline in Treasury yields and an increase in the dollar's value [1] Market Implications - If demand is weak, particularly from foreign institutions, it could reignite concerns regarding U.S. debt issues, resulting in rising yields and a weakening dollar [1]