U.S. Treasury yields decline during Asian trading session, with the 10-year yield at 4.934%

According to The Wall Street Journal, during Wednesday's Asian trading session, U.S. Treasury yields fell across the board. Data from Tradeweb shows the two-year U.S. Treasury yield dropped to 4.546% at one point, its lowest level in two months, before slightly rebounding. The latest figure shows a decrease of 0.8 basis points to 4.604%. The 10-year U.S. Treasury yield fell by 1.5 basis points to 4.934%. Elisabet Kopelman, U.S. economist at Swedish Nordea Bank and a Federal Reserve observer, stated in a report: "We expect that changes in the power structure of Congress will lead to slightly expansionary fiscal policy, while also hindering the passage of massive spending plans, such as Trump's proposal to allocate 1.5 trillion USD to the Pentagon in the budget. Given that the U.S. budget deficit is already on an unsustainable trajectory, this is not a bad thing for the bond market, but it is not enough to bring about sustained improvement. At present, neither party, including the President, seems to regard the budget deficit as a major concern."