Core Viewpoint - The article discusses the pressure on the bond market due to the transition between old and new economic drivers, as reflected in the September economic data [2] Economic Data Analysis - September economic data indicates a slowdown in growth, with GDP growth rate showing a decline compared to previous months [2] - Industrial production growth has decreased to 4.5% year-on-year, down from 5.3% in August, signaling weakening manufacturing activity [2] - Retail sales growth has also slowed to 2.5% year-on-year, compared to 3.0% in August, reflecting reduced consumer spending [2] Bond Market Implications - The bond market remains under pressure as the economic transition creates uncertainty, leading to fluctuations in interest rates [2] - The yield on government bonds has increased, indicating a shift in investor sentiment amid economic concerns [2] - The article suggests that the current economic environment may lead to a prolonged period of volatility in the bond market [2]