Both the United Kingdom and the United States are enjoying a holiday market closure at a time when liquidity is weakening, and US Treasury futures are expected to fluctuate.

After Trump postponed the implementation of higher tariffs on the European Union, US bond futures softened in early trading on Monday, but considering the public holidays in both the UK and the US, market liquidity decreased and traders were not rushing to participate in this downturn. Against the backdrop of growing concerns about the expanding budget deficit, investors' term premium for G-10 bonds is constantly rising. Adding insult to injury for US bonds, the negative feedback loop of Japanese bonds is spreading; long-term bonds had previously collapsed under stagflation concerns. Meanwhile, leveraged short positions on ultra-long-term contracts are climbing, although they are still far below the extreme levels seen in October last year.