Treasury yields have extended their slide, with the 10-year yield falling by 9 basis points to 4.19%. This decline comes amid global equity weakness, growing expectations for Federal Reserve rate cuts later this year, and anticipation of the U.S. GDP report. The 2-year Treasury yield has also dipped, reaching its lowest level since February at 4.36%, influenced by the recent PCE release. Meanwhile, the euro zone's bond yields have shown mixed movements, with Germany's 10-year bond yield initially rising but later falling by 0.5 basis points to 2.41%. Additionally, Taiwanese and New Zealand government bond yields have experienced fluctuations, with the Taiwanese 10-year yield increasing by 2.5 basis points to 1.6850% and the New Zealand 10-year yield continuing to decline. The $44b 7Y auction at 1pm is the last coupon sale until August 6.