The recent decline (mainly in the US stock market) was due to the unsatisfactory performance of the just concluded 20-year US Treasury bond auction, reflecting a signal of decreased demand for medium - and long-term US bonds, rising interest rates, and an increase in passive buying by primary traders. The US government has to pay higher interest rates (i.e. higher bid rates) to attract buyers in order to successfully issue bonds. Indicating a weakened demand for medium - to long-term bonds in the market or an increase in pricing for future interest rate risks such as inflation and fiscal spending. The overall willingness to buy weakened, driving the yield of the 20-year US treasury bond up to 5.104%, the highest since November 2023. This tweet is sponsored by @ ApeXProtocolCN | Dex With Apex