[Long-term bond yields continue to rise, and overseas bond markets set off a selling wave] September 3rd, recently, the long-term bond yields of major economies such as the United States, Japan, the United Kingdom, and Germany have continued to rise, and overseas bond markets have encountered a cross-border selling "storm." Analysts believe that this is due to the intertwining of multiple factors, including the re-escalation of geopolitical conflicts in the Middle East, a significant increase in market concerns about inflation, and the continued disturbance of long-term constraints such as fiscal issues and supply-demand imbalances. What is even more noteworthy is that the benchmark for global asset pricing is moving upward as a whole. The systematic rise of the global risk-free interest rate center is causing a recalibration of the valuations of various assets, and global asset allocation will also enter a new stage of "high interest rates and high volatility". (Shanghai Securities News)