Group 1 - The 2-year and 10-year U.S. Treasury yields increased by 3 basis points to 3.914% and 4.43% respectively, while the 30-year yield rose by 1 basis point to 4.96% [2] - Initial jobless claims for the week ending July 19 were reported at 217,000, lower than the previous week by 4,000 and below the expected 227,000 [2] - New home sales in June grew by only 0.6% to 627,000 units, falling short of the expected 645,000 units [2] Group 2 - President Trump visited the Federal Reserve, marking the first formal visit by a U.S. president in nearly 20 years, during which he expressed a desire for lower interest rates [3][4] - The European Central Bank decided to maintain interest rates, leading to a significant sell-off in European bonds, with 10-year German bond yields rising by 10.7 basis points to 2.705% [4] - The UK PMI index for July decreased from 52.0 to 51.0, indicating only slight growth in business activity, while UK bond yields saw minor increases [4] Group 3 - In the Asia-Pacific market, Japanese bond yields rose, with the 2-year yield reaching 0.844% and the 10-year yield at 1.603% [5] - The U.S. Treasury has no bond issuance scheduled for the upcoming Friday, but plans to issue a total of $448 billion in bonds on July 28 and 29 [5][6] - The actual net financing needs of the U.S. Treasury for the second quarter reached $514 billion, exceeding earlier estimates by $391 billion [7]

Core Viewpoint - The UK bond market experienced a decline in yields across various maturities, indicating a potential shift in investor sentiment towards safer assets amid economic uncertainties [1] Group 1: Yield Movements - The yield on the UK 10-year government bond fell by 1.3 basis points to 4.622%, with an intraday trading range of 4.665% to 4.614% [1] - The 2-year UK bond yield decreased by 2.0 basis points to 3.862% [1] - The 30-year UK bond yield dropped by 2.2 basis points, while the 50-year bond yield fell by 2.6 basis points [1] Group 2: Yield Spread - The yield spread between the 2-year and 10-year UK bonds increased by 0.731 basis points, reaching +75.846 basis points [1]

Group 1 - The core point of the article highlights the increase in UK government bond yields following trade agreement announcements between the US and Japan, as well as reports of the EU and US nearing a tariff agreement [1] - The 10-year UK government bond yield rose by 6.6 basis points to 4.635% [1] - The 2-year UK government bond yield increased by 4.0 basis points to 3.881% [1] - The 30-year UK government bond yield saw an increase of 8.3 basis points, reaching 5.482% [1] - The 50-year UK government bond yield rose by 8.7 basis points to 4.864% [1] - The yield spread between the 2-year and 10-year UK government bonds increased by 2.558 basis points to +75.115 basis points [1]

Group 1 - US Treasury yields mostly declined on July 21, with the 2-year yield down 3 basis points to 3.85%, the 10-year yield down 6 basis points to 4.38%, and the 30-year yield down over 6 basis points to 4.94% [1] - The yield spread between the 2-year and 10-year Treasury notes narrowed to 53 basis points [1] Group 2 - The Conference Board reported a 0.3% decline in the Leading Economic Index for June, falling to 98.8, which exceeded the Dow Jones forecast of a 0.2% decrease [3] - The Conference Board does not predict a recession but expects significant economic growth slowdown in 2025 compared to 2024, with a projected 1.6% growth in real GDP for this year [3] - Investors are closely monitoring Federal Reserve Chairman Jerome Powell's speech scheduled for Tuesday, as other Fed officials remain silent ahead of the upcoming FOMC meeting [3] Group 3 - The US Treasury issued $155 billion in two bond offerings on July 21, including $82 billion in 13-week bills and $73 billion in 26-week bills, with an additional $80 billion in 6-week bills scheduled for issuance on Tuesday [5]

Group 1 - The latest US PPI data indicates a cooling in wholesale price index for June, with expectations of a 0.2% month-on-month increase and a 2.5% year-on-year increase [1] - Following the PPI release, US Treasury yields declined across all maturities except for the 4-month short-term debt, with the 2-year yield down by 2.3 basis points to 3.936%, the 10-year yield down by 2.6 basis points to 4.463%, and the 30-year yield also down by 2.6 basis points to 4.992% [1] - The Producer Price Index (PPI) for June showed a month-on-month increase of 0.3% and a year-on-year increase of 2.7%, with a notable drop in service prices offsetting the rise in gasoline prices [3] Group 2 - The core PPI, excluding volatile food and energy components, remained flat compared to May, with the annual rate slowing from 3.2% to 2.6% [3] - The UK inflation rate for June reached 3.6%, exceeding expectations, with the core inflation rate rising to 3.7% [4] - In the Asia-Pacific market, long-term Japanese government bonds saw a decline in yields, with the 10-year yield down by 1.7 basis points to 1.573% [4] Group 3 - The US Treasury issued a $65 billion 17-week short-term debt on Wednesday and plans to issue $170 billion in two bond offerings on Thursday, including $90 billion and $80 billion in 4-week and 8-week short-term debts respectively [6]

Economic Data and Market Sentiment - The U.S. Labor Department reported a surprising drop in initial jobless claims to 227,000, below the Dow Jones estimate of 235,000, indicating resilience in the job market [3] - The four-week average of initial claims decreased from 241,500 to 235,500, further supporting the positive employment outlook [3] Treasury Yields - As of the latest close, the 2-year U.S. Treasury yield remained flat at 3.86%, while the 10-year yield increased by 1 basis point to 4.35%, and the 30-year yield decreased by 1 basis point to 4.865% [1] - In the European market, the 10-year German bond yield fell by 0.8 basis points to 2.654%, while the 10-year Italian bond yield rose by 1.1 basis points to 3.593% [5] Trade and Tariff Implications - The Yale Budget Lab estimated that tariffs proposed by Trump could lead to an additional $2,400 in expenses for the average American household this year [3] - There is optimism regarding a potential tariff agreement between the EU and the U.S. to avoid additional import taxes [5] Federal Reserve and Political Dynamics - Criticism of Federal Reserve Chairman Jerome Powell has intensified, with officials suggesting that the administration may be preparing to dismiss him [4] - Analysts warn that Powell's potential dismissal could negatively impact financial markets, as it may signal a loss of independence for the Federal Reserve [4] International Market Trends - In the Asia-Pacific region, Japanese bond yields increased, with the 2-year yield rising by 0.4 basis points to 0.762% [6] - The Bank of England is expected to lower interest rates by 25 basis points in August, reducing the rate from 4.25% to 4.0% [5]

Group 1 - The June non-farm payroll report showed an unexpected resilience in the U.S. job market, which may lead the Federal Reserve to reconsider its decision to cut interest rates in July [1][3] - The U.S. Labor Department reported an increase of 147,000 jobs in June, surpassing the Dow Jones estimate of 110,000 and slightly above the revised figure of 144,000 for May [3] - The unemployment rate fell to 4.1%, the lowest since February, while the broader unemployment rate decreased to 7.7% [3] Group 2 - Average hourly earnings rose by 0.2% month-over-month and 3.7% year-over-year, indicating steady wage growth [3] - The average workweek slightly declined to 34.2 hours, reflecting changes in labor demand [3] - In contrast, the ADP employment report indicated a decrease of 33,000 jobs in the private sector, raising concerns about the labor market's strength [4] Group 3 - U.S. Treasury yields rose following the employment report, with the 2-year yield increasing over 10 basis points to 3.894%, and the 10-year yield rising over 6 basis points to 4.356% [1] - In Europe, bond yields fell as investors bought European government bonds, with the 10-year German bond yield dropping to 3.512% [4] - In the Asia-Pacific region, Japanese bond yields rose, with the 30-year yield increasing by 8.6 basis points to 2.971% [5]

Group 1 - The core viewpoint indicates that the UK bond market experienced fluctuations in yields, with the 10-year bond yield rising by 3.2 basis points to 4.504% while cumulatively dropping by 3.2 basis points over the week [1] - The 2-year UK bond yield increased by 1.2 basis points to 3.839%, with a cumulative decline of 8.0 basis points for the week [1] - The 30-year UK bond yield saw a cumulative increase of 0.3 basis points, indicating a W-shaped reversal, while the 50-year bond yield rose by 3.7 basis points [1] Group 2 - The yield spread between the 2-year and 10-year UK bonds increased by 4.578 basis points, reaching +66.277 basis points [1]

Group 1 - The core viewpoint of the articles indicates that U.S. Treasury yields have shown a slight increase, reflecting unexpected inflation rise as indicated by the Federal Reserve's preferred metrics [1][3] - The 2-year Treasury yield rose by 4.5 basis points to 3.76%, while the 10-year Treasury yield increased by 3.2 basis points to 4.285% [1] - The core inflation rate for May reached 2.7%, exceeding expectations, with economists predicting an overall inflation rate of 2.3% [3] Group 2 - Investors are closely monitoring President Trump's renewed threats against Federal Reserve Chairman Powell [4] - Powell reiterated the Fed's wait-and-see approach regarding interest rates until the impact of tariffs on the economy becomes clearer [5] - In the European market, most government bonds saw a slight increase in yields, with the 10-year German bond yield rising by 1.8 basis points to 2.583% [5] Group 3 - In the Asia-Pacific market, Japanese bond yields increased across the board, with the 10-year yield rising by 3.4 basis points to 1.452% [7] - The U.S. Treasury Department had no bond issuance scheduled for Friday [7]

Group 1 - The U.S. Treasury yields rose across the board, with the 2-year yield increasing by 1.5 basis points to 3.846%, the 10-year yield rising by 3.3 basis points to 4.355%, and the 30-year yield up by 4.3 basis points to 4.902% [1] - Federal Reserve Chairman Jerome Powell is set to present the monetary policy report to Congress, facing pressure from the Trump administration and some Fed officials advocating for interest rate cuts [3][4] - The Federal Open Market Committee has revised its forecast for the core personal consumption expenditures (PCE) inflation rate for Q4 2025 from 2.8% to 3.1%, indicating a potential shift in monetary policy [4] Group 2 - In the European market, German bond yields mostly increased, with the 10-year yield rising by 5.1 basis points to 2.557%, while Italian and French bond yields also saw upward movements [4] - In the Asia-Pacific market, Japanese bond yields generally increased, with the 10-year yield rising by 2.8 basis points to 1.437% [7] - The U.S. Treasury issued a total of $124 billion in two bond offerings, including $55 billion in 6-week bills and $69 billion in 2-year notes [7]