Global Stocks Fall, US 10-Year Treasury Yields Above 5% Amid Geopolitical Risk and China Property Bust

Global stock markets experienced declines early on Monday, with China's CSI300 index hitting a 4.5-year low due to an ongoing property bust. US 10-year Treasury benchmark borrowing rates surpassed 5% for the first time in 16 years, reflecting ongoing anxiety in bond markets. The dollar strengthened against the yen, probing the 150 yen level, while slipping against the euro ahead of the European Central Bank's meeting this week. These movements are partly attributed to geopolitical risks, including the Middle East conflict, which saw crude oil and gold prices ease from recent highs as aid convoys began to Gaza and no fresh escalation occurred over the weekend.