According to a report by Shenchao TechFlow, on May 23, Jussi Hiljanen, chief rate strategist at SEB Research, stated that U.S. long-term Treasury yields may rise further. Market confidence in U.S. policy is waning, foreign exchange hedging costs and lack of attractive valuations are leading investors to turn to European bonds, resulting in structural upward pressure on long-term U.S. yields. Long-term Treasury yields are expected to rise moderately, but fiscal policy may trigger significant repricing of U.S. Treasuries.