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Analysis: U.S. International Trade Court ruling triggered a surge in government bond yields

Online reports, according to CoinDesk, the U.S. Court of International Trade ruled on May 29 that key tariff measures implemented during the Trump administration were illegal, causing violent fluctuations in the U.S. Treasury bond market. The yield on the 30-year treasury bond exceeded 5%, and the yield on the 10-year bond rose to 4.50%, up 10 basis points from the previous two days. The court held that the president overstepped his authority to use economic emergency powers to impose extensive trade taxes, but the ruling did not affect tariffs on specific industries such as steel. The U.S. government said it would appeal. As U.S. -China relations continue to be tense, the United States has recently taken measures such as restricting chip technology exports and tightening visas for China students. The U.S. Dollar Index (DXY) rose to 100 from 98, while Bitcoin (US$108,282) and gold prices remained sideways.

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