The yield on 10-year US Treasury bonds has reached 4.4% for the first time since the end of November last year.

Due to concerns about an impending recession in the US economy, the S&P 500 index, a major US stock market index, has fallen more than 10% from its peak of 4,577 points on July 31st. The Dow Jones Industrial Average fell 1.7% in the last week of October 2023, slightly below 32,420 points. This week, the 10-year US Treasury yield broke the 5% mark for the first time since 2007. In addition, more and more investors seem to be turning to gold as a "safe haven" for US Treasury bonds. The commodity rose to $2,000 per ounce for the first time since May, and Bitcoin broke the $35,000 mark for the first time since March 2022. Economists warn that the rise in US Treasury yields will eventually make them more attractive than stocks. When this happens, it will stimulate capital to flow from stocks to US Treasury bonds, leading to a lack of important investment funds for businesses and contributing to higher borrowing costs.