10年期国债期货主力合约(T2512)

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央行会否重启买债? 债市静候“变量”打破僵局
Xin Lang Cai Jing· 2025-09-16 20:36
Core Viewpoint - The market sentiment is mixed ahead of the Federal Reserve's interest rate decision, with increased expectations for enhanced growth-supporting policies following the release of August macroeconomic data [1] Group 1: Market Reactions - The domestic bond futures market has strengthened, with the 10-year government bond futures main contract (T2512) recording four consecutive days of gains [1] - There is speculation that the central bank may restart bond purchases, which could be a significant factor in breaking the current deadlock in the bond market [1] Group 2: Policy Implications - Analysts suggest that sustainable actions like central bank bond purchases could be more beneficial for the bond market compared to one-time measures such as reserve requirement ratio cuts or interest rate reductions [1] - The timing of the central bank's bond purchasing actions remains uncertain, and it is recommended to adopt a more cautious approach for large position operations based on this signal [1]