Tonight, the highly anticipated May CPI data is about to be revealed, with market expectations that the data will rise. Just hours after the CPI data is announced, the U.S. Treasury will hold two extremely critical bond auction events. In the early hours of Wednesday Eastern Time, $39 billion of 10-year Treasury bonds will be sold; immediately following, $22 billion of 30-year Treasury bonds will enter the market on Thursday morning.

The results of these bond auctions are of great significance and could very likely influence the direction of the economy, as well as affect the Federal Reserve's decisions and the direction of its interest rate policies. On one hand, if the demand for the bond auction is strong, it indicates that investors are confident about the U.S. economic outlook and are willing to invest funds to purchase Treasury bonds, which can stabilize the economic situation to some extent; on the other hand, if the auction is cold, it may trigger market concerns about U.S. debt issues, leading to a blow to investor confidence in the U.S. economy.

Currently, Congress is reviewing a comprehensive tax and spending bill, which will undoubtedly add more uncertainty to the U.S. bond market. Once this bill is passed, significant changes will occur in U.S. fiscal spending and tax policies, further affecting the supply and demand relationship and yields of Treasury bonds. In this scenario, the volatility of the U.S. bond market is bound to intensify, and both investors and market analysts are highly attentive to the dynamics of the financial market this week, bracing for the upcoming numerous variables.