债市利率上行

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债市利率上行,调整后仍有配置机会!关注风险资产走强对债市的影响
Sou Hu Cai Jing· 2025-07-28 10:12
Group 1 - The core viewpoint of the articles indicates that the recent rise in 10-year government bond yields is influenced by a combination of factors, including increased risk appetite in the equity market and rising commodity prices, challenging the underlying logic of "low demand, low inflation" that previously supported the bond market [1][2][6] - The 10-year government bond yield rose significantly, increasing nearly 8 basis points from 1.66% to 1.73% over the first four trading days of the week [1][6] - Despite the pressure on bond funds due to redemption, institutions remain optimistic about the market's future development, viewing the current risk in the bond market as manageable [1][7] Group 2 - The performance of bond funds varied, with secondary bond funds showing strong results; for instance, the highest weekly return was 5.92% for the Hongta Hongtu Shengshang One-Year A fund [2][4] - The redemption pressure on bond funds has increased significantly, with institutions expressing concerns about negative feedback from the market, although it is still considered a relatively controllable phase [6][7] - Market analysts suggest that the recent adjustments in the bond market present a potential opportunity for investment, despite the volatility, as the overall market is not expected to turn bearish [6][7]