SUN Benchmark amid Significant Increase in FFR. The domestic bond market responded negatively to speculations of a 50 bps increase in the Fed Funds Rate (FFR) at the Fed’s May, June, and July meetings, respectively. The movement of the Government Bond (SUN) market yesterday was also in the midst of waiting for the release of inflation data from the United States (US). Based on a Reuters survey, the US Consumer Price Index (CPI) for March was 8.4% YoY (vs. Feb. 7.9% YoY). Reuters also projects a US recession next year by 40%.

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