[U.S. bond yields have fallen for several days, and the 10-year yield once fell 10 basis points to 5.08%] On October 15, U.S. bond prices continued their recent rise, driving the yields of all maturities downward across the board. The benchmark 10-year U.S. bond yield fell 10 basis points to 5.08% during the day, setting a new low in the past three weeks; the 5-year U.S. bond yield fell more than 6 basis points in a single day to around 4.93%; the two-year and 30-year U.S. bond yields also fell by 3 basis points and 10 basis points respectively. Analysis points out that the recent continuous correction in U.S. bond yields is mainly driven by three factors: 1. Accelerated influx of safe-haven funds: Risk assets such as global equities have generally come under pressure recently, market risk appetite has cooled in stages, and safe-haven funds have returned to the U.S. bond market; 2. Revision of monetary policy expectations: After the release of inflation data, the market re-evaluated the policy path of the Federal Reserve, and long-term U.S. bonds ushered in concentrated positive corrections and technical buying after the early surge; 3. Liquidity and allocation buying support: The Federal Reserve launched a tens-billion-dollar reinvestment bond purchase plan, coupled with institutional investors locking in interest rates at high yields, providing strong financial support for the bond market.