The yield on the 10-year Swiss government bond was near 0.40%, its highest level since May 20, as investors closely monitored the latest round of US-China trade talks while awaiting guidance from major central banks, including the Federal Reserve and the ECB. On the domestic front, the latest Swiss CPI and GDP data raised the odds of Swiss National Bank (SNB) delivering a 25 basis point rate cut in next meeting on June 19. The Swiss CPI fell by 0.1% year-on-year in May, slipping below the SNB's 0-2% target range and marking the first deflationary reading since March 2021.