Treasuries had dropped significantly, with yields holding over 2.5%. A commentator from BNY Mellon explains the situation best, saying "Whether the news of Chinese withdrawal was fake or not, the Treasury market is likely to continue to feel a little fragile, but the fact remains that the hunt for yield goes on and with no real signs of inflation yet and improving growth, there are still no real sellers out there". FINSUM : We think that is a very eloquent summary of the current situation.