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UST yields continued their slide as markets digested the surprisingly soft labor data, with 10-year ending around 4.08%, marking a fresh low and down from ~4.05% the previous day, while the 2-year stood lower, hovering near its April lows amid heightened rate-cut expectations; this drove a modest bull-steepening in the curve (10-2 spread at ~54 bp). Safe-haven demand held firm with gold near record highs and global equities rallying, supported by dovish Fed pricing and diminished confidence in fiscal discipline. Investors are now bracing for this week’s CPI and Fed commentary for further policy clarity.