National Treasury Bond Yields Fall on US Wholesale Price Stability... 3-Year Bond at 3.252%
On the 14th, U.S. Treasury bond yields fell across the board as strong buying demand for government bonds emerged, influenced by stabilization in U.S. consumer and wholesale prices.
In the Seoul bond market that day, the yield on 3-year Treasury bonds closed at 3.252% per annum, down 2.5 basis points (1bp = 0.01 percentage points) from the previous trading day.
The 10-year yield fell 4.3bp to 3.302% per annum. The 5-year and 2-year yields dropped 3.0bp and 2.2bp, closing at 3.266% and 3.325% per annum, respectively.
The 20-year yield declined 3.1bp to 3.263% per annum. The 30-year and 50-year yields fell 2.3bp and 2.2bp, recording 3.200% and 3.190% per annum, respectively.
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On the 13th (local time), the U.S. Department of Labor announced that the Producer Price Index (PPI) for May fell 0.2% month-over-month, significantly below market expectations.
Since the PPI is considered a leading indicator of consumer prices, this raised expectations for a shift in the Federal Reserve's monetary policy. The 10-year U.S. Treasury yield dropped to the 4.2% range, widening its decline.
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