Today, U.S. stocks rebounded, and the changes in U.S. Treasury bonds played a key role. Previously, long-term Treasuries were continuously sold off—yields kept rising, putting more pressure on stocks. Now, there’s strong buying interest in long-term bonds, with yields pulling back from their highs. This has eased market concerns about rates continuing to surge, creating conditions for the stock market rebound. On October 8 (Eastern Time), the U.S. auctioned $22 billion worth of 30-year Treasury bonds, with a bid-to-cover ratio of 2.54x, higher than the average of the last six auctions. With yields nearing 5.62%, it’s attracting a group of investors to step in. As long as there are buyers for these long-term Treasuries, the market doesn’t have to worry as much about the U.S. needing to offer even higher interest rates to sell its debt. The buying pushed bond prices up, causing yields to drop, which in turn eased valuation pressure on stocks. The 10-year Treasury yield fell from around 5.35% intraday on Thursday to about 5.23%, and today it’s hovering near 5.25%, still below its recent peak. For the stock market, the key is that the relentless climb in rates over the past few days has temporarily slowed down. At the same time, new reports about OpenAI’s year-end revenue expectations have eased some investors’ concerns about AI growth. A more stable bond market has reduced pressure on the broader market, and the positive AI news has given tech stocks a reason to rebound. With U.S. stocks leading the way, Bitcoin’s price action has also stabilized a bit. One @Gate, trade more markets.