The Zhitong Finance App learned that on Wednesday, the decline in the US Treasury bond market intensified, and strong economic data and weak debt auctions pushed the majority term yield to the highest level in nearly 20 years. The auction results pushed the 5-year US Treasury yield above 5% for the first time since 2007. For many years, reaching 5% of the benchmark US 10-year Treasury yield was viewed as the tipping point where turbulence in global financial markets began. Today, this threshold looks more like a signpost than a ceiling.

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