The rise in bond yields means a decline in national sovereign credit and an increase in national debt repayment risks. Many investors may sell bonds and invest in some risky stocks and futures. From a macro perspective, the rise in bond yields means that the market economy is gradually improving, investment returns are stable, and people are beginning to reduce their investment in bonds.

A rise in long-term Treasury yields means a rise in long-term Treasury yields means

Because Treasury yields are inversely related to Treasury prices, a rise in long-term Treasury yields reflects the Sell ??Treasuries on optimism about economic recovery. The rise in long-term government bond yields also indicates that due to the increase in long-term government bond yields, the yields on other types of assets will rise and asset prices will fall accordingly, thereby increasing the financing costs of other investment products. As government bond yields rise for a long time, commercial banks will be able to lend less and less loan funds, causing a shortage of money. Especially when the market money supply remains unchanged, the liquidity of the market economy will gradually tighten. Investors have turned their attention to the stock market and futures, and futures liquidity has slowed down, which can easily lead to sharp fluctuations in financial markets.