Allianz Chief Economic Advisor: U.S. bond market reacts abnormally to Fed's move

Allianz chief economic adviser said that when the Federal Reserve expanded the rate cut from 25 basis points to 50 basis points, the US Treasury yield would not surge. The market did not see this rate cut as a signal of a more dovish monetary policy, but instead pushed the entire yield curve up. Some analysts even believe that the 10-year US Treasury yield may further surge to more than 5%. (Jinshi)