Over recent weeks, the dynamics on the US Treasury market—valued at an astonishing US$29 trillion—have taken an unpredictable turn. A sharp drop in bond prices, evocative of the "flight to liquidity" witnessed during the COVID era, has reignited concerns about market stability. Despite ongoing pressure on equity indices, a wave of sell-offs hit Treasuries on Monday, leading to a dramatic one-day increase of 17 basis points in the yield of the benchmark 10-year bonds, placing yields around 35 basis points. This represents one of the most significant surges in the past two decades.

The UK Chancellor of the Exchequer, Rachel Reeves, is set to announce a significant reform in the management of corporate pension funds, aiming to free up tens of billions of pounds for reinvestment. This initiative seeks to revitalize the stagnating British economy and support Prime Minister Keir Starmer's ambitious plans to improve living standards and restore the nation's aging infrastructure.