Core Viewpoint - The issuance of local government bonds is slowing down, indicating that the year is nearing its end for bond issuance activities [2] Group 1: Issuance Trends - The current pace of local government bond issuance has significantly decreased compared to previous periods, suggesting a potential end to the issuance cycle for this year [2] - As of now, the total issuance for the year is approaching completion, reflecting a trend of reduced activity in the market [2] Group 2: Market Implications - The slowdown in bond issuance may have implications for liquidity in the market, affecting both investors and issuers [2] - This trend could signal a shift in fiscal policy or economic conditions that warrant closer monitoring by market participants [2]
【申万固收|地方债周报】明年发行或继续前置，Q1已披露计划发行16809亿元——地方债周度跟踪20251226
申万宏源证券上海北京西路营业部·2025-12-30 01:58