The U.S. bond market had a tough start in July, with long-term U.S. bonds experiencing a difficult period

The U.S. Treasury market had a rough start in early July, with long-term U.S. Treasuries experiencing a difficult period. Over the past year, the BofA US Treasury Index with a maturity of over 10 years has seen a total return decline of 5.1%, and over the past two years, it has worsened, dropping by 6.1%. The stubbornness of the inflation rate has made investors uneasy. According to FactSet data, the yield on the 10-year U.S. Treasury bond has risen by about 11 basis points to around 4.48%. SEI's Chief Investment Officer expects the yield on the 10-year U.S. Treasury bond to rise to around 5% by the end of 2024. Nevertheless, it is expected that the Federal Reserve will begin cutting interest rates this year. The U.S. Bureau of Labor Statistics will release the employment growth report for June