US Treasury yields and the U.S. dollar declined as inflation concerns eased

According to Odaily, with oil prices dropping over 3% and the market reassessing the outlook for U.S. interest rates, U.S. Treasury yields and the U.S. dollar fell. The CME FedWatch Tool indicates that the probability of at least one rate hike this year remains high at 42%. Meanwhile, as inflation expectations cool, the probability of a second rate hike has dropped to 28%, down from 34% a week ago. A survey by The Wall Street Journal projects that the University of Michigan Consumer Sentiment Index, set to be released at 10:00 AM ET (10:00 PM Beijing time), will rise from 44.8 to 49. (Jin Shi)