PBOC Conducts 800 Billion Yuan MLF Operation as US Treasury Yields Rise

The People's Bank of China (PBOC) announced an 800 billion yuan Medium-term Lending Facility (MLF) operation on September 24, with additional overnight reverse repo operations scheduled from September 28 to October 8. Meanwhile, the U.S. Treasury plans to repurchase between $4 billion and $6 billion in long-term debt. Global markets are experiencing volatility, with U.S. Treasury yields rising by approximately 15 basis points, the 5-year yield surpassing 5% for the first time since 2007, and the DXY dollar index exceeding 101. Brent crude rose 4%, while spot gold and silver declined.