Oil price drops weaken expectations of interest rate hikes, US Treasury bonds rise, and demand for two-year term auctions remain strong.

Technology stocks pull back triggers safe-haven buying, coupled with the decline in oil prices weakening interest rate hike expectations, US Treasury bonds rose on Tuesday. On that day, the global semiconductor sector saw a widespread decline, prompting investors' concerns about the sustainability of the previous sharp rise in stocks related to artificial intelligence (AI). Cooling risk appetite drives funds towards safe-haven assets such as US Treasury bonds and the US dollar.