Recently, long-term bond yields in major economies such as the US, Japan, the United Kingdom, and Germany have continued to rise, and overseas bond markets have experienced a “storm” of cross-border sell-offs. Analysts believe that the reason behind this is a combination of factors, including the escalation of the Middle East geopolitical conflict, a marked rise in market concerns about inflation, and continued disturbances in long-term constraints such as fiscal issues and imbalances between supply and demand. What is more noteworthy is that the global asset pricing benchmark is moving upward as a whole. The systematic rise in the global risk-free interest rate center has caused various asset valuations to be re-calibrated, and global asset allocation will also enter a new stage of “high interest rates and high volatility.”

Recently, long-term bond yields in major economies such as the US, Japan, the United Kingdom, and Germany have continued to rise, and overseas bond markets have experienced a “storm” of cross-border sell-offs. Analysts believe that the reason behind this is a combination of factors, including the escalation of the Middle East geopolitical conflict, a marked rise in market concerns about inflation, and continued disturbances in long-term constraints such as fiscal issues and imbalances between supply and demand. What is more noteworthy is that the global asset pricing benchmark is moving upward as a whole. The systematic rise in the global risk-free interest rate center has caused various asset valuations to be re-calibrated, and global asset allocation will also enter a new stage of “high interest rates and high volatility.”