The non-farm payroll report was below expectations, and U.S. Treasury yields fell to 4.1%

According to Jinshi reports, although the recent rise in oil prices may exacerbate inflation, the disappointing non-farm payroll report has boosted market expectations for the Federal Reserve to cut interest rates this year, leading to an increase in U.S. Treasury prices. The yield on the 10-year U.S. Treasury fell by 3 basis points to 4.1%, while the yield on the 2-year U.S. Treasury dropped by 5 basis points to 3.53%. Interest rate swaps indicate that traders are betting the Federal Reserve will cut rates a total of 44 basis points before December.