According to Jinshi, on April 5, the United States released a hot employment report, and then U.S. Treasury yields rose. The 2-year Treasury yield rose 5 basis points to 4.70%. The 10-year Treasury yield rose 7 basis points to 4.38%. In addition, expectations for a rate cut in June have also fallen back, and the current expectation is a 14 basis point cut, which is a decrease from the previous 16 basis points. OIS swaps show that expectations for rate cuts this year have fallen to 68 basis points.