本报记者 彭妍 "在流动性持续宽松的市场环境下，依靠高息揽储的传统模式难以为继。从行业发展趋势来看，短期内理财产品收益率将 呈现普遍性下调态势，同时差异化定价策略也将加速涌现。预计未来3个月至6个月内，超过70%的理财产品将主动下调业绩比 较基准。"田利辉补充说。 与此同时，多家理财子公司发布投研观点，为投资者在低利率环境下的资产配置提供指引。华夏理财表示，目前不妨考虑 持有短债类理财，以承受较低的风险去把握流动性红利带来的机会。农银理财表示，降准释放的流动性红利+政策利率调降， 利好存单、短期信用债等短债资产。建议优先布局短债类配置为主的短期限固收类理财产品，锁定当前利率高位。 田利辉认为，银行理财市场正经历利率下行期的深度调整，机构需通过产品创新与风险管理平衡收益与流动性：一方面， 银行机构亟需推进产品迭代，开发短期限、高流动性产品（如30天期理财），匹配当前低利率环境下客户的避险需求。另一方 面，银行亟需强化成本控制与风险管理。需要考虑发行同业存单置换高成本存款，降低负债端压力。可以运用利率衍生工具 （如利率互换）对冲债券组合的久期风险，稳定净值波动。 自中国人民银行5月7日宣布降准降息后，银行理财市场 ...

Group 1 - The core viewpoint of the articles is that the recent reduction in reserve requirement ratios and interest rates by the People's Bank of China has created a favorable environment for short-term bonds, while long-term bonds may face adjustment pressures in the short term [3][4][5] - Multiple financial institutions have indicated that the current monetary easing will benefit short-term debt instruments, suggesting that investors should consider holding short-term bond products to capture liquidity benefits [3][4][5] - Analysts recommend a diversified asset allocation strategy to balance risk and return in the new market environment, emphasizing the importance of managing liquidity and maintaining reasonable leverage levels [4][6][5] Group 2 - The announcement of a 0.5 percentage point reduction in the reserve requirement ratio is expected to inject approximately 1 trillion yuan into the market, while the policy interest rate has been lowered by 0.1 percentage points [3] - The short-term bond market is anticipated to perform well due to the favorable conditions created by the recent monetary policy adjustments, while the long-term bond market may experience slight adjustments due to profit-taking [3][4] - In the equity market, there are opportunities for investment, particularly in sectors such as dividends, consumption, and technology, as the monetary policy stance is supportive [6][5]