News

On Wednesday (March 18), at the end of trading in New York, the yield on the U.S. 10-year benchmark Treasury rose by 6.65 basis points to 4.2650%. It maintained a slight decline before the release of the U.S. PPI inflation data at 20:30 Beijing time—refreshing a daily low of 4.1673% at 16:23, followed by a rebound from 20:00 to 21:05. At 02:00, the Federal Reserve announced to hold steady and slightly retraced gains when disclosing the Summary of Economic Projections (SEP). After the press conference by Fed Chair Jerome Powell began at 02:30, the yield expanded its gains, reaching a daily high of 4.2689% at 04:26.

The yield on the two-year U.S. Treasury rose by 9.93 basis points to 3.7729%, trading within a range of 3.6508%-3.7877% during the day. It slightly retraced gains when the FOMC announced to hold steady, and the SEP showed officials raised core PCE inflation expectations, with the dot plot suggesting one rate cut opportunity each in 2026-27, but continued to expand gains since Powell's press conference