The 10-year UST yield has dropped again, or is now at the level of 1.59%. Meanwhile, positive sentiment came from the release of China’s 1Q21 economic growth data and the US weekly jobless claims data. China’s National Bureau of Statistics noted that the economy grew 18.3% YoY. Although still below market expectations, this 1Q21 growth indicates a recovery. The US bond market also responded positively to US retail sales for the period March 2021, which grew 9.8%, and US jobless claims at the lowest level since in a year. The 10-year benchmark SUN price FR0087 closed at 100.19 with a yield of 6.47%, according to Bloomberg data.

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