Odaily News Deutsche Bank said the Federal Reserve will need to step in to stabilize the Treasury market if the turmoil that once pushed long-term U.S. borrowing costs above 5% continues. On Wednesday, escalating doubts about the safety of U.S. assets due to Trump's tariff war exacerbated the sell-off in U.S. Treasuries, with the yield on the 30-year bond rising to 5.02%, the highest level since November 2023. If this situation continues, the Federal Reserve will need to intervene, which the bank's global head of foreign exchange strategy, George Saravelos, calls a "circuit breaker mechanism" - that is, emergency quantitative easing. "If the recent turmoil in the U.S. Treasury market continues, we believe the Fed will have no choice but to make emergency purchases of U.S. Treasuries to stabilize the bond market," he wrote. (Jinshi)