Central Bank Conducts 800 Billion-Yuan MLF Operation, US Treasury Yields Rise Across the Board

The central bank announced an 800 billion yuan MLF operation and reverse repo operations with a daily cap of 1 trillion yuan. On the same day, the U.S. Treasury planned to buy back long-term Treasury bonds, pushing U.S. Treasury yields up across the board by approximately 15 basis points, with the 5-year yield breaking through 5%, while the U.S. dollar index and Brent crude prices rose in tandem.