Treasury bond futures fell across the board, with the 30-year main contract falling 0.12%, the 10-year main contract falling 0.05%, the 5-year main contract falling 0.03%, and the 2-year main contract falling 0.01%.
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U.S. 10-year Treasury bond auction through January 8 - bid multiple 2.53, previous value 2.7.
The auction of 10-year Treasury bonds in the United States through January 8 - the winning rate is 4.68%, compared to the previous value of 4.235%.
The 30-year main contract of Treasury bond futures expanded its decline to 0.40%, the 10-year main contract fell 0.12%, the 5-year main contract fell 0.14%, and the 2-year main contract fell 0.06%.
The 30-year main contract for Treasury futures widened to 0.33%. In addition, the 10-year main contract narrowed its decline to 0.01% and the 5-year main contract fell 0.11%.
The negative interest rate spread between China and the United States' 10-year Treasury bond yields further widened to over 300bp, the largest in more than 24 years.
The 30-year main contract of Treasury bond futures opened lower and rose higher, rising 0.16%, and the 10-year main contract rose 0.11%. In addition, the 5-year main contract rose 0.08% and the 2-year main contract rose 0.05%.
The yield on 30-year government bonds in China's interbank bond market fell nearly 4 basis points to 2% in early trading, a record low.
US Treasury renewed its $22 billion 30-year Treasury note with a win the bidding yield of 4.535 per cent and a pre-issue yield of 4.523 per cent at the 1pm New York time invite tenders close. Primary dealers were allocated 14.4 per cent, up from the previous round. Direct bidders were allocated 19.1 per cent and indirect bidders were allocated 66.5 per cent. The bid multiple was 2.39 times, lower than the average of 2.42 times for the past six renewals.
The win the bidding yield for the US Treasury 39 billion $10-year Treasury auction was 4.235 per cent, compared with 4.252 per cent for pre-issue trading at 1pm New York time. Primary dealers were allocated 10.5 per cent, down from the previous auction. Indirect bidders were allocated to 70 per cent and direct bidders to 19.5 per cent. The bid multiple of 2.70 was the highest since 2016, with the previous six auctions averaging 2.54 times.
The yield of the 10-year active bond "24 interest-bearing bond 11" fell 3.5bp to 1.87%, continuing to hit a record low.
The spread between US and German 10-year bond yields is set to close at its widest level since 2019.
On November 29th, the central bank announced that in order to increase the counter-cyclical adjustment of monetary policy and maintain the reasonable and abundant liquidity of the banking system, the People's Bank of China launched the open market treasury bond trading operation in November 2024, and the monthly net purchase of bonds was 200 billion yuan.
The yield on the US 2/10-year Treasury bond has inverted for the first time in two months, with 2y trading at 4.27% and 10y at 4.26%.