Despite encountering a "Waterloo" in the first week of the new year, traders who bet on further strength of US bonds in 2024 seem not worried about the recent decline - many of them believe that this is a good time to seize the opportunity for yield increases before the Federal Reserve starts cutting interest rates. Last Friday, the US Department of Labor announced that non farm payroll growth in December unexpectedly exceeded market expectations, leading to a decline in bond prices. However, as the bulls in the bond market swarmed in when the yield of 10-year treasury bond bonds was close to 4.1%, a new high since mid December, the decline of bond prices on that day was finally significantly curbed, and the yield of US bonds rose only slightly throughout the day.