On Thursday (March 13), at the New York close, the yield on the U.S. 10-year benchmark Treasury bond fell by 4.04 basis points to 4.2720%, showing a trend of rising and then falling throughout the day. When the PPI data was released at 20:30 Beijing time, it plummeted below 4.3%, and then returned to the upward trend that had been in place since 14:00, reaching a daily high of 4.3509% at 21:42, accompanied by spot gold prices continuously hitting historical highs, while yields fluctuated downward, refreshing the daily low to 4.2567% at 01:47. The yield on the two-year U.S. Treasury bond fell by 3.78 basis points to 3.9488%, refreshing the daily high to 4.0114% at 20:36, and then dropping to a daily low of 3.9280% at 01:46. The yield on the three-year U.S. Treasury bond fell by 4.47 basis points, the five-year yield fell by 4.04 basis points, and the seven-year yield fell by 3.66 basis points