Financial concerns spread overseas with long-term debts caught in a storm.

Recently, a wave of overseas long-term bond "sell-off" has swept through, causing long-term government bond yields in multiple countries to sharply rise. Behind this anomaly, the issues of fiscal sustainability cannot be ignored, as factors such as political uncertainty, inflation expectations, and seasonality are intertwined, putting pressure on the overseas ultra-long bond market. Looking ahead, analysts believe that investors' concerns about government finances may continue to escalate, and the high volatility of overseas long-term bonds may persist.