CICC stated that a 5% US bond interest rate may become the norm. The institution believes that a 5% interest rate is a reasonable pricing based on 

current economic fundamentals. History has shown that in the upward stage of the financial cycle, the impulse for credit expansion is stronger, coupled

 with frequent supply shocks after the epidemic, rising inflation risks, and the need for greater monetary tightening, as well as greater upward pressure

 on market interest rates.

Recently, some officials of the Federal Reserve showed a slight "hawkish" sign in the face of stronger than expected US data, triggering investors' 

concerns and supporting the further rise of US treasury bond bond yields.

Last Friday, Cleveland Fed Chairman Maester stated that she believes the Fed may still raise interest rates again this year, consistent with the bank's 

"dot matrix" released in September. On the previous day, Federal Reserve Chairman Powell hinted that the bank would continue to "hold its ground" 

at its next meeting, but if there were further signs of strong economic growth, it was possible to raise interest rates again. "Considering many 

uncertainties and risk factors, as well as the progress we have made, the Federal Reserve is acting cautiously

The three major US stock indices fluctuate

The soaring yield of 10-year US Treasury bonds has put pressure on the US stock market, and the three major indices have collectively opened low. 

With the slight decline in US bond yields during this period, the three major US stock indices fluctuated and adjusted. As of the close, the Dow fell 

190.87 points, or 0.58%, to 32936.41 points; The S&P 500 index fell 7.12 points, or 0.17%, to 4217.04 points; The Nasdaq rose 34.52 points, or 0.27%, 

to 13018.33.

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