When you say leverage, you should mean that bank interest rates are negatively correlated with bond prices, right? That's true.

For example, there used to be a bond with a face value of 100 yuan and an annual coupon rate 10%, that is, the annual interest 10 yuan. Now that interest rates have been raised, the interest rates of bank loans and deposits have increased by 1% respectively, so I think the annual yield of bonds should be increased to11%(10%+1%) to compensate the opportunity cost brought by interest rate hikes. Since the annual interest is fixed at 10 yuan, only when the bond price drops to 90.9 yuan (10 yuan/1%) will someone be willing to buy it. This is the reason why bank interest rates rise and bond prices fall.