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What is the relationship between China's national debt futures and stock index, and China's national debt and RMB exchange rate?
Relationship between treasury bond futures and stock index: Futures market and stock market are two independent markets, but futures have the function of price discovery, so stock index futures and treasury bond futures will react before stock index, and commodity futures will react before stock plate. From the perspective of the big cycle, stocks enter the bull market and bonds enter the bear market, while stocks enter the bear market and bonds enter the bull market.

Relationship between national debt and RMB exchange rate: there is no necessary relationship between national debt and RMB exchange rate, but it is related to bank interest rate. Usually, the price of national debt is inversely proportional to interest rate, and the yield of national debt is directly proportional to interest rate. After the bank raised interest rates, the funds flowed out of the national debt and transferred to time deposits or other bank wealth management products, which led to the decline of the national debt price and the rise of the national debt yield to maturity. In addition, if there are other factors greater than raising interest rates, the price of national debt will also change.

Treasury bond futures refers to the derivative trading method of treasury bonds that determines the buying and selling prices in advance through organized trading places and delivers currencies and bonds at a specific time in the future. Treasury bond futures is a kind of financial futures and an advanced financial derivative.

National debt, also known as national debt, is a creditor-debtor relationship formed by the state on the basis of its credit and in accordance with the general principles of debt. National debt is a bond issued by the state, a government bond issued by the central government to raise financial funds, and a debt certificate issued by the central government to investors, which promises to repay the principal and interest within a certain period of time. Because the issuer of national debt is the country, it has the highest credit and is recognized as the safest investment tool.

Stock price index is an index used to reflect the overall level and changes of various stock market prices in the whole stock market. Stock index for short. It is to select a group of representative stocks, average their prices by weight, and make a certain calculation.