
On the eve of the highly anticipated release of the US CPI data, the performance of the 10-year US Treasury bond auction was impressive

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The winning bid rate for this 10-year government bond auction is 4.276%, significantly lower than the 4.438% in June. As the "buyer of last resort" taking over all unsold supply, primary dealers were allocated only 11.5%, highlighting strong real demand. Analysts believe that after the steady performance of the 3-year U.S. Treasury auction the previous day, this 10-year U.S. Treasury auction once again performed well, confirming that the market has no concerns about the U.S. CPI data on Thursday
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