The US government bond yields have fallen because the market continues to expect that the Federal Reserve will cut interest rates.

During the Asian trading session, yields on US Treasuries of various maturities fell as data from last Friday showed a deceleration in inflation in January, continuing the market's expectation that the Federal Reserve will cut interest rates this year. According to data from the London Stock Exchange Group, the money market currently reflects an expectation of a 65 basis point interest rate cut by the Federal Reserve this year, with the market anticipating the first rate cut to occur in July, and a rate cut in June still possible. In addition to data-driven factors, analysts at Danske Bank pointed out that investor concerns about the independence of the Federal Reserve have eased after Kevin Warsh was nominated as the next Fed chairman, and uncertainties surrounding the trade war have also diminished. According to Tradeweb data, the yield on 10-year US Treasury bonds fell by 3.1 basis points to 4.024%.