On Wednesday (May 13), U.S. Treasury yields swung sharply following the release of wholesale inflation data (PPI). The 10-year benchmark yield climbed 5.8 basis points to 4.4688% at the New York close, holding near 4.46% before the PPI print at 8:30 PM Beijing time, then jumped to a daily high of 4.5003% at 11:30 PM, exhibiting a V-shaped reversal pattern.
The 2-year yield fell 1.23 basis points to 3.9791%, dipping to that level pre-PPI before rallying to a daily high of 4.0127% at 9:46 PM, then retreating to a daily low of 3.9750% at 3:27 AM, forming an M-shaped pattern.
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