U.S. 10-Year Treasury Yield Tops 4.7% as Foreign Demand Slumps

The U.S. 10-year Treasury yield surpassed 4.7%, with the yield in the secondary market closing at 4.701%, marking a 0.05 percentage point increase from the previous day. This rise coincided with a decline in foreign investment demand, as indicated by the indirect bid rate falling to 76.7%. This represents a 4.8 percentage point drop from the prior month and is the lowest level recorded since May. Analysts suggest that factors such as an excessive fiscal deficit, robust economic growth, ongoing geopolitical conflicts, and inflation remaining above the Federal Reserve's target are contributing to the difficulty for Treasury yields to decrease.