According to online reports, Foo Ken Yap, senior investment strategist at Standard Chartered Bank, said that despite intensified concerns about the U.S. fiscal deficit, the Federal Reserve is expected to cut interest rates to cushion bond market shocks and support economic growth. The bank predicts that the U.S. 10-year Treasury yield will fall to 4%-4.25% from the current 4.59% within 12 months. It also remains optimistic about U.S. stocks and believes that strong corporate investment and resilience of earnings expectations will continue to support the market. Standard Chartered also reiterated the value of gold as a hedge against inflation and recession risks, maintaining a target price of $3500. (Jin Shi)