US Treasury futures experienced robust buying activity.
US Treasury yields declined to intraday lows, falling 4.5 to 7 basis points across the board, with the yield curve experiencing a sharp bull flattening movement.
The short end has incorporated additional easing expectations, with overnight index swaps (OIS) tied to Federal Reserve meetings indicating expectations for a combined 46 basis points of rate cuts across the remaining two meetings this year, compared to 44 basis points at Thursday's close.
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