U.S. Treasury bulls face a double test this week of inflation and non-farm payroll revisions
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最新报道：According to a report from Coinnet, U.S. Treasury bulls will face a dual test this week from inflation and non-farm payroll revisions. 2-year and 10-year Treasury yields closed at their lowest levels since early April last week, with traders fully pricing in a 25 basis point rate cut by the Federal Reserve in September and anticipating further cuts before the end of the year. This week's focus will begin on Tuesday, when the U.S. Bureau of Labor Statistics will release its preliminary benchmark revision for the 2025 non-farm payroll survey. Whether the market can continue this month's gains will depend in part on the tone of the producer price index (PPI) and consumer price index (CPI) data, to be released on Wednesday and Thursday, respectively. Traders will also be watching how the market absorbs the auctions of 3-year, 10-year, and 30-year Treasury bonds. Leslie Falconio, head of fixed income strategy at UBS, said, "The pace of rate cuts this year will be slow and measured, and the data-dependent narrative will continue. A 50 basis point rate cut in September is highly unlikely. Even if inflation data falls short of market expectations, we wouldn't expect such aggressive action."
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