The U.S. government bonds marked the largest three-day decline since 1987, falling around 100 basis points since last Wednesday as rate hikes hope diminished after some financial banks in the U.S. collapsed.
The yield on the 30-year Treasury lost 2.96% to 3.591%, while the yield on the 10-year Treasury was down by more than 20 basis points, plunging 5.84% to 3.479%. The yield on the 2-year Treasury dropped sharply by almost half a percentage point or 10.34% to 4.1135%.
More importantly, the U.S. 1-year Treasury is moving around 4.4131%, gaining 2.82%. This could imply that the market is expecting the U.S. interest rate to come down at least 0.34 basis points, based on the current Fed fund rate at 4.75%.
