PANews reported on May 22 that after the results of the weak demand for the US 20-year Treasury auction were released, US stocks, bonds and currencies fell sharply. Deutsche Bank analyst George Saravelos regarded the market's reaction as a clear signal of "foreign buyers' collective avoidance of US debt assets." He pointed out that foreign investors "are no longer willing to provide funds to the US government at current prices." Rising financing costs are putting pressure on the stock market. Unless there are major adjustments to the fiscal reconciliation bill proposed by the Republicans, the value of US debt will have to "fall sharply" before it can attract foreign investors back. Affected by this, the S&P 500 index widened its intraday decline to 1.5%, the 10-year US Treasury yield once rose to 4.607%, the highest level since February 13, and the US dollar index fell 0.5%.