At the end of the New York session on Thursday, the US 10-year Treasury yield rose 4.35 basis points to 4.6902%, fell slightly to 4.6308% at 10:41 Beijing time, then continued to rise, reaching 4.7120% at 20:34. US Treasury Secretary Bessent's argument that “the scale of repurchases may exceed 4 billion US dollars” brought about a wave of V-shaped reversal. Recently, it remained stable near the 4.7% mark. The 50-day EMA has moved up to 4.5774%. The two-year US Treasury yield rose 1.88 basis points to 4.1811%; the 30-year US Treasury yield rose 3.97 basis points to 5.2298%, reaching 5.2656% at 20:34, almost completely recovering the loss of August 19 and approaching the top 5.3361% on August 18. The 2/10-year US Treasury yield spread rose 3.247 basis points to +50.876 basis points. The yield on 10-year inflation-protected treasury bonds rose 0.44 basis points to 2.3411%; the two-year TIPS yield fell 5.38 basis points to 1.8685%; and the 30-year TIPS yield rose 0.87 basis points to 2.9660%.

At the end of the New York session on Thursday, the US 10-year Treasury yield rose 4.35 basis points to 4.6902%, fell slightly to 4.6308% at 10:41 Beijing time, then continued to rise, reaching 4.7120% at 20:34. US Treasury Secretary Bessent's argument that “the scale of repurchases may exceed 4 billion US dollars” brought about a wave of V-shaped reversal. Recently, it remained stable near the 4.7% mark. The 50-day EMA has moved up to 4.5774%. The two-year US Treasury yield rose 1.88 basis points to 4.1811%; the 30-year US Treasury yield rose 3.97 basis points to 5.2298%, reaching 5.2656% at 20:34, almost completely recovering the loss of August 19 and approaching the top 5.3361% on August 18. The 2/10-year US Treasury yield spread rose 3.247 basis points to +50.876 basis points. The yield on 10-year inflation-protected treasury bonds rose 0.44 basis points to 2.3411%; the two-year TIPS yield fell 5.38 basis points to 1.8685%; and the 30-year TIPS yield rose 0.87 basis points to 2.9660%.