DBS Bank Senior Rates Strategist Eugene Leow said rising demand for safe-haven assets could pull the 10-year US Treasury yield back to 4.8%. Leow cited market doubts about AI, economic slowdown risks, and political uncertainty in Europe and the US—including midterm elections—as factors sustaining safe-haven demand. At current absolute yield levels, US Treasuries remain suitable as a safe-haven hedging tool, according to Leow. From a trading perspective, he identified 4.8% as a logical short-term technical target for the benchmark yield.