The mild CPI of US bonds: buying pressure appears instantly, selling pressure follows closely.

The overall June CPI released on July 15 met expectations, with the core index only rising 0.2% month-on-month. US bonds experienced a slight increase at one point. However, selling pressure was triggered by a rebound in the "super core" sub-index and rising clothing prices, causing a blocked 4k TNU bulk transaction to limit the rebound height at 112-20. Hedge funds used data to cover short positions by buying back 30k FVU, 40k TYU, and 10k USU contracts, while banks' proprietary and real-money accounts sold at the front end and 10-year high. Traders believe that the data is not enough to prompt the Fed to cut interest rates in July, but the probability of a rate cut in September has increased from 58.9% at the close on Monday to 59.7%. Short-term traders still hope for dovish signals.