Waiting for policy guidance, the bond market opened with a pullback.

On December 17th, Jinshi Data reported that the bond market showed a downward trend at the opening. Market participants believe that the bond market needs further policy guidance. Securities traders believe that after a short-term surge, the bond market needs to consolidate and further guidance from monetary policy. Qi Sheng, an analyst at Orient Securities, stated that the unexpected benefits from loose monetary policy are the core factors leading to the accelerated decline in the interest rate. In the short term, loose monetary policy has not yet been implemented and expectations are still fermenting. The accelerated decline in bond yields may continue to improve the performance of fixed-income asset management products, attracting more funds to enter the bond market and forming a positive cycle. Therefore, it is difficult for the bond market sentiment to change significantly within the year, unless unexpected factors cause a rapid increase in market risk appetite, resulting in capital outflow from the bond market. However, the probability of this happening is currently low.