The weak 20-year US Treasury auction triggered a sharp drop in stocks, bonds and currencies, and the value of US Treasury bonds is facing adjustment pressure

PANews reported on May 22 that after the weak demand for the US 20-year Treasury bond auction was announced, US stocks, bonds, and currencies all fell sharply. Deutsche Bank analyst George Saravelos viewed the market reaction as a clear signal of "foreign buyers collectively avoiding US debt assets". He pointed out that foreign investors "are no longer willing to fund the US government at current prices". The rising financing costs are putting pressure on the stock market. Unless there is a major adjustment to the Republican fiscal compromise bill, US debt values will have to "drop significantly" to potentially attract foreign investors back. As a result, the S&P 500 index expanded its intraday decline to 1.5%, the 10-year US Treasury yield briefly rose to 4.607%, the highest level since February 13, and the US dollar index fell 0.5%.