Internet reported that after the announcement of weak demand for the 20-year Treasury bond auction, U.S. stocks and bonds fell one after another. Deutsche Bank analyst George Saravelos regarded the market's reaction as a clear signal of "collective avoidance of U.S. debt assets by foreign buyers." He pointed out that foreign investors are "no longer willing to fund the U.S. government at current prices." Rising financing costs are putting pressure on the stock market. Unless there is a major adjustment to the fiscal reconciliation bill proposed by the Republican Party, the value of U.S. debt will have to "drop significantly" before foreign investors can be re-attracted. Affected by this, the intraday decline of the S & P 500 index widened to 1.5%, the yield on 10-year U.S. bonds once rose to 4.607%, the highest level since February 13, and the US dollar index fell 0.5%.