In the past month, bond market yields have shown a fluctuating downward trend. On December 2, the interest rate of the 10-year treasury active bond "240011" fell below 2% in the morning session, setting a new low in recent years; the 10-year China Government Bond yield dropped below the 2% mark to 1.981%, down about 16 basis points from early November. Despite the short-term bullish trend in the bond market, comprehensive recent "bull-bear" factors suggest that there is limited further downward space for treasury yields. In previous years close to year-end, some institutional investors would make year-end allocation arrangements in advance by adjusting their investment portfolios, positioning assets such as bonds that can bring stable interest income in the coming year to prepare for next year's investment activities. The demand for risk-free assets among investors is increasing, contributing to the downward trend of year-end treasury yields. (Securities Times)