The two-year US Treasury bond yield fell more than 9 basis points on the day of Powell's speech.

On Friday, the New York market closed, the yield on the 10-year US Treasury benchmark bond fell by 7.39 basis points to 4.2537%. At 22:00 Beijing time, Federal Reserve Chairman Powell, while speaking at the Jackson Hole Global Central Bank Annual Meeting, saw the yield instantly drop from above 4.3% to close to 4.24%, then continued to fluctuate at a low level. The yield fell a total of 6.22 basis points this week, showing an overall M-shaped trend, trading in the range of 4.3511%-4.2402%. The yield on the 2-year US Treasury bond dropped by 9.54 basis points to 3.6963%. After Powell released a dovish signal, the yield also dropped from around 3.78% to below 3.7%, then continued to fluctuate at a low level. The yield fell a total of 5.42 basis points this week, trading in the range of 3.8040%-3.6732%.