The yield on 10-year US Treasury bonds fell by more than 7 basis points this week

On Friday (June 20), at the close of trading in New York, the yield on the US 10-year benchmark Treasury note fell by 1.57 basis points to 4.3751%. Over the week, it dropped a total of 7.11 basis points, remaining in a downward trend and trading overall within the 4.4443%-4.3377% range. The yield on the two-year US Treasury note fell by 3.337 basis points to 3.9077%, with a cumulative weekly decline of 5.87 basis points, trading within the 3.9749%-3.8824% range. It only saw a brief uptick after the US stock market opened on Monday, but plunged sharply to the week's lowest level on Wednesday when the Federal Reserve announced the FOMC's fourth consecutive pause and released the Summary of Economic Projections (SEP), including the interest rate dot plot.