Analysis believes that after China's largest decline since 2016, the Chinese Treasury Bonds may continue.
According to Bloomberg, analysts believe that after the China Treasury bond sets the biggest decline since 2016, the transaction will still be turbulent.However, Huachuang Securities and Founder Securities said that as the policy is maintained to support the economic recovery, the 10 -year benchmark national bond yield may rise up to 2.9 %.
Due to the rapidly optimistic mood of the economy, the Chinese government bond market with a scale of 3.4 trillion US dollars (S $ 4.67 trillion) has a decline in one time, causing investors to be treated sharply.Traders are currently determining whether the storms of the Chinese bond market have passed, or if the dynamic zero -epidemic prevention policy is further adjusted, it will trigger a new round of selling.
Liu Jie, director of the China Macro Strategy of Standard Chartered Bank, said: "We do have expected funds to rotate from the debt market to the stock market. RecentlyIn the loose situation of inter -bank liquidity, bond funds may still be attractive. We expect the bond market to rotate the stock market to a significant rebound. "China Treasury bonds fell.In Monday, the People's Bank of China shrunk continued to make a 1 trillion expiration of MLF, and said that the comprehensive other policy tools were comprehensive. Since November, the total amount of liquidity in the mid -to -long -term liquidity is higher than the due amount. ThereforeChina Treasury bonds fell on Monday.
In addition, the peak of the corporate tax period has also exacerbated the bond market pressure.The yield rate of the benchmark 10 -year Treasury bond has fallen slightly since Monday has risen by 10 basis points, and is currently around 2.81 %.However, despite severe fluctuations recently, some analysts believe that it is too early to determine that the Chinese solid income market will usher in more declines.
The chief economist of CITIC Securities clearly believes that "bonds have entered the adjustment stage." During this period, it may be as long as half a year, and 3%will be the key level of 10 -year Treasury yields.
