According to a research report by CITIC Securities, the phenomenon of "anti-internal competition" has fueled inflation expectations, combined with the earlier overcrowding in the bond market and incremental shifts in the previously loose liquidity environment, collectively propelling the current round of adjustments in bond market interest rates. These fluctuations have significantly heightened redemption pressures on bond funds. However, the central bank has adopted a constructive stance, mitigating the risk of further negative feedback loops among institutions. While it remains uncertain when the bond market will stabilize in the near term, the market need not harbor excessive pessimism regarding subsequent trends. Given the economic fundamentals, the central bank's monetary policy stance, and the behavior of investment allocators, the rise in interest rates may pave the way for new trading opportunities. Institutions should remain vigilant against profit-taking while keeping an eye out for potential trading windows.