The expectation of the Federal Reserve cutting interest rates is getting stronger and stronger, and the auction of 2-year US Treasury bonds has achieved record demand. On Tuesday, US bond yields generally fell slightly, and the housing market and regional Fed manufacturing data released by the US side on the same day showed weakness, further fueling people's expectations of multiple interest rate cuts by the Federal Reserve in the second half of the year. In addition, the two-year treasury bond auction conducted by the US Treasury Department on Tuesday also saw record strong demand, and investors swarmed in, which strongly demonstrated their confidence that the easing cycle might be about to start.