The U.S. 10-year Treasury yield surged to 5.36% on Wednesday, a 24-year high, before retreating to around 5.23% on Thursday due to strong demand for a $22 billion 30-year Treasury auction. Following a prolonged rise in yields, U.S. Treasuries are becoming increasingly attractive to Hong Kong investors. Standard Chartered has turned bullish, recommending buying the dip in 10-year U.S. Treasuries after yields broke above 5%, with an expectation that yields will fall back to between 4.75% and 5% over the next 6 to 12 months.