**[Opinion: U.S. 10-Year Treasury Yield Approaching 5.25% Key Threshold May Trigger Stock-Bond Resonance Decline]** According to Bloomberg, the U.S. 10-year Treasury yield rose above 5% this week, nearing the critical historical level of 5.25%. The article points out that when the 10-year yield remains above 5.25% for an extended period, stock and bond prices tend to move in the same direction, with Treasuries no longer hedging U.S. equities but instead amplifying portfolio losses. If yields continue to rise, it is expected that Treasury volatility and the VIX index will increase, high-yield bond credit spreads will widen, and the market will face greater discount rate uncertainty and liquidity pressure. The author believes that under structural inflationary pressures, strengthening commodity prices, and uncertainty ahead of the FOMC meeting, if the 10-year yield stays above 5.25% for a period of time, significant changes will occur in global asset pricing and trading environments.