BlockBeats News, May 22nd: Following the announcement of the lackluster demand in the US 20-year Treasury bond auction results, the US stock, bond, and forex markets all experienced sharp declines. Deutsche Bank analyst George Saravelos interpreted the market's reaction as a clear signal of "foreign buyers collectively shunning US Treasury assets." He pointed out that foreign investors "are no longer willing to fund the US government at current prices."
The rising cost of funding is putting pressure on the stock market. Unless there is a significant adjustment in the fiscal and resolution plan proposed by the Republican Party, the value of US Treasuries will have to "significantly decrease" to potentially reattract foreign investors.
As a result, the S&P 500 index's intraday decline expanded to 1.5%, the 10-year US Treasury yield briefly rose to 4.607%, the highest level since February 13th, and the US Dollar Index fell by 0.5%. (FXStreet)
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