[Ray Dalio: U.S. Stock Market Buffer Funds Depleted, Bond Bear Market Not Over] Bridgewater Associates founder Ray Dalio stated that as U.S. Treasury yields rise, the buffer funds in the U.S. stock market to withstand a high-interest-rate environment are being depleted, and the bond market bear market is not over. The construction of artificial intelligence infrastructure has led to a deterioration in free cash flow for related companies. (Source: Jin10 Data)