Group 1 - The 10-year U.S. Treasury yield rose on Wednesday due to investors digesting weak employment data and weighing the impact of President Trump's tax and spending plan [1][3] - The ADP report indicated a decrease of 33,000 jobs in June, contrasting with economists' expectations of an increase of 100,000 jobs [3] - The Senate passed Trump's major bill with a narrow margin of 51 to 50 votes, which is expected to increase the fiscal deficit by $3.3 trillion over the next decade [3] Group 2 - The 2-year Treasury yield increased by 0.6 basis points to 3.783%, the 10-year yield rose by 5.1 basis points to 4.3%, and the 30-year yield increased by 6 basis points to 4.84% [1] - In the European market, 10-year German bonds rose by 5.8 basis points to 2.625%, Italian bonds increased by 8.6 basis points to 3.555%, and French bonds rose by 8.1 basis points to 3.328% [5] - The UK bond market saw significant increases, with the 10-year yield jumping over 20 basis points to 4.67%, reflecting concerns over government spending plans [5]

Core Viewpoint - Former U.S. Treasury Secretary Lawrence Summers stated that President Trump's signature tax and spending plan will increase the U.S. debt burden, ultimately undermining the country's status as the world's leading power [1] Group 1 - The U.S. is the largest debtor nation in the world, with debt accumulation occurring at a faster rate than any other country in history [1] - This rapid accumulation of debt is threatening the United States' position as the strongest nation globally [1] - Summers emphasized that this situation makes the U.S. more vulnerable [1]