According to Jinshi, Jefferies' chief economist for Europe, Mohit Kumar, said in a report that European data remains weak, the downward trend in inflation has not changed, and the European Central Bank is expected to cut interest rates in June. Against this background, the upside potential of German government bond yields at current levels should be limited. Jefferies has begun to go long on German interest rates, but will strictly set stop-loss levels to cope with the volatility of the macro market.