Geopolitical tensions have recently escalated again. With the United States escalating its actions in Venezuela, market risk sentiment has notably declined, with substantial capital flowing into safe-haven assets. U.S. Treasury yields have declined in response, as investors rush to allocate long-term bonds to lock in returns. Buoyed by this, TLT, a long-duration bond proxy product, has performed modestly upward, becoming an important tool for risk mitigation. Overall, the decline in yields not only reflects market concerns about geopolitical risks, but also demonstrates investors' strong preference for safe assets.