[Dalio: U.S. Bond Bear Market Far from Over, Supply-Demand Imbalance Will Continue to Push Yields Higher] According to a report by Jinse Finance on October 14, Bridgewater founder Ray Dalio stated that the sell-off in the U.S. bond market is far from over. The increasing financing needs of the government and corporations, combined with weakened demand from some traditional buyers, are exacerbating pressure on U.S. bonds. Dalio noted that the U.S. is entering a phase where rising bond supply is driving yields higher. Higher borrowing costs will further expand debt levels, and this cycle will only end when high interest rates weaken the economy and financial markets, rebalancing bond supply and demand. He remarked, 'The bond bear market may still have a long way to go.' Dalio pointed out that the U.S. debt burden has reached its highest level since World War II and is expected to worsen in the coming years. This year, the U.S. government is projected to roll over approximately $10 trillion in maturing debt while adding about $2.1 trillion in new borrowing. He also warned that demand from major foreign holders of U.S. bonds may decline, while corporations are increasing bond and equity financing to build AI infrastructure, competing with U.S. Treasuries for capital. Dalio observed that signs are emerging in the corporate credit market of investors demanding higher returns, indicating that the market is seeking greater compensation for the additional debt supply. Dalio believes that under conditions of increasing debt supply and weakening demand, shorting U.S. bonds remains more attractive than going long.