The 20-year US Treasury yield has dropped to the lowest level below the 30-year US Treasury yield since 2021.

The yield on the 20-year U.S. Treasury bond dropped below the yield on the 30-year Treasury bond at one point, creating the largest yield spread since 2021. At 01:17 Beijing time, the yield on the 20-year U.S. Treasury bond rose by about 7 basis points to 5.0035%, while the yield on the 30-year U.S. Treasury bond rose by 6.8 basis points to 4.9997%. Concerns among traders have arisen due to negotiations in the U.S. Congress on tax cuts, as President Trump's policies may worsen the already historically high deficit issue, increasing pressure on the longer-dated U.S. bonds.