US Treasury Yield Surges to Highest Level Since 2007, Market Concerned About Inflation and Escalating Middle East Conflict

BlockBeats News, May 20th, according to CNBC, the U.S. Senate advanced a resolution attempting to block the Trump administration from military action in Iran. However, due to the President's veto power, the resolution is unlikely to pass. Nevertheless, this vote still reflects increasing political resistance surrounding the Middle East situation.

Meanwhile, influenced by inflation pressure and rising energy prices, the yield on the U.S. 30-year Treasury bond rose to the highest level since 2007, reaching 5.197%. Bond market sell-off also put pressure on the stock market, with the S&P 500 index seeing a third consecutive day of decline, while the Dow and Nasdaq also closed lower.

From a macro perspective, the market continues to be influenced by geopolitical tensions and inflation expectations. With the Iran situation driving up oil prices, the U.S. economy faces further inflationary risks.

Additionally, SpaceX is reportedly hiring Goldman Sachs to prepare for a potential IPO, which could become one of the largest IPOs in history, with a company valuation possibly reaching $1.25 trillion.

Overall, the market remains under pressure due to a combination of high interest rates, geopolitical risks, and the accelerating competition in AI.