[Inflation Expectations Heat Up, U.S. Treasury Yield Curve Steepens for the Second Consecutive Day] According to a report by Jinse Finance, the U.S. Treasury yield curve steepened for the second consecutive trading day, primarily driven by a weaker dollar and stronger crude oil prices, both of which have boosted inflation expectations. The 2Y/10Y U.S. Treasury yield spread widened to 67.6 basis points at one point, up from 66.6 basis points at Tuesday's close. The yield curve exhibited a typical "bear steepening" pattern, where long-term yields rise faster than short-term yields as investors price in the rising risk of accelerating inflation. BNP Paribas' Head of U.S. Rates Strategy, Guneet Dhingra, stated: "Periods of dollar weakness typically see the long end being more sensitive to inflation risks. Therefore, in general, the dollar and U.S. Treasuries often act as the 'pressure release valves' for the combination of monetary and fiscal policies. If the combination of fiscal and monetary policies suggests that the dollar will continue to weaken, then I think the rise in long-term yields is a textbook reaction."