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[US Treasury Sell-off Resumes, Japanese Bonds Lead Decline, 10-Year Yield Hits Highest Level Since 2007] ⑴ A sharp decline in Japanese government bonds dragged down US Treasuries, with yields on both Japanese and US 10-year Treasury bonds hitting multi-decade highs. ⑵ High trading volume was observed in US 10-year Treasury futures during the early New York session. ⑶ Reports indicate that as debt concerns rise, foreign investors are favoring US stocks over US Treasuries, marking the first time this century, excluding the periods following the pandemic and the global financial crisis, that international funds flowing into US stocks have exceeded those flowing into government debt. ⑷ Sovereign bond yields climbed further on Tuesday, with the US 10-year Treasury yield hitting a near 20-year high, deepening anxieties among borrowers and global investors. ⑸ Reports indicate that the Bank of England is expected to announce a halt to the sale of long-term government bonds this week, which were previously impacted by the global bond market sell-off. The central bank will announce its quantitative tightening pace plan and latest interest rate decision on Thursday. ⑹ Reports suggest that the retreat of pension funds from the US Treasury market has left gaps, which are being filled by hedge funds, and the New York Fed is inquiring about the potential risks. (7) Reports indicate that the appointment of the Federal Reserve Chairman has ended the dispute between Trump and the Fed, and interest rate hikes will test this truce. Investors expect the Fed to begin raising rates this week. (8) The Japanese government finalized a consumption tax reduction and household subsidy outline on Tuesday, but did not specify how it would raise funds, potentially perpetuating market concerns about the country's already strained finances. (9) Reports indicate that US oil executives warned that a prolonged closure of the Strait of Hormuz would inevitably trigger a fuel crisis. They believe the crisis has already arrived, with global commercial fuel inventories depleted for more than six months and strategic oil reserves unlikely to be further released. (10) Regarding economic data, the market is focused on the September New York Fed manufacturing survey, and the Fed began its two-day policy meeting that day. (11) The US Treasury will announce the issuance of 4-week, 8-week, and 17-week Treasury bills, auction 6-week Treasury bills and reissue $13 billion in 20-year Treasury bonds, and conduct repurchase operations of 10- to 30-year Treasury Inflation-Protected Securities.