The probability of an interest rate cut in June dropped to less than 50%, and U.S. 5-year, 10-year and 30-year Treasury bond yields hit year-highs

U.S. 5-year, 10-year and 30-year Treasury bond yields hit year highs. Just now, the U.S. 30-year Treasury bond yield rose above 4.5%, hitting a new high since December 1 last year. The U.S. 30-year Treasury bond yield rose above 4.5%, hitting a new high since December 1 last year. The U.S. 5-year Treasury bond yield rose above 4.375%, hitting a new high since November 28 last year. After a U.S. manufacturing indicator rose to expansion territory for the first time since 2022, bond traders lowered their expectations for monetary easing this year, and at one point estimated that the probability of starting an interest rate cut in June was less than 50%. Because the ISM manufacturing index exceeded all economists' expectations, the market expects the Federal Reserve to cut interest rates by less than 65 basis points during the year, which is lower than the expectations of Federal Reserve officials themselves.