Facts have proved that this is true. At the just concluded auction of US 10-year treasury bond, the winning interest rate was 4.342%, lower than 4.44% of the previous value, indicating that investors are willing to buy treasury bond at a lower yield, showing a strong demand for US treasury bond. And the bidding multiple is 2.6, lower than the previous value of 2.67, which means that the total bidding amount is 2.6 times the bidding amount, and the demand is relatively mild but still in a healthy range. The allocation percentage of the winning interest rate is 92.86%, significantly ahead of last month's 59.99%, indicating that there is still sufficient demand in the US bond market to support the current interest rate level. In other words, the bond market still believes that the probability of interest rate increase is not high, and interest rate cuts are the main expectation. Another issue mentioned during the 3-year US Treasury bond was the decrease in overseas investors, which also occurred in the 10-year US Treasury bond. Indirect bidders (usually representing foreign buyers) accounted for 56.7%, a significant decrease from the previous auction's 87.9%. This reflects a decrease in overseas investors and a greater absorption of domestic liquidity. This tweet is sponsored by @ ApeXProtocolCN | Dex With Apex