Bond investment is an external investment made by investors by purchasing various bonds. It is an important part of securities investment. Generally speaking, bonds are divided into government bonds, financial bonds and corporate bonds according to their different issuing entities. The risk of bond investment refers to the possibility and range of changes in expected bond returns. The risk of bond investment is universal. All risks associated with bond investment are called total risks, and total risks can be divided into diversifiable risks and non-diversifiable risks.

The market price and actual yield of bonds are affected by many factors. Changes in these factors may cause changes in the actual interests of investors. As a result, changes in the risk level of corporate bonds will have an impact on investments. It will have an impact on investors' investment returns, bring unexpected returns or bear more risks. Therefore, investors should pay close attention to the changes in various factors that affect the assessment of corporate risk levels, speculate on the direction of change in bond grades, and then predict its price changes and Profit from it.

Investors can be the first to buy bonds when predicting that the price of a certain company's bond is about to rise, or they can be the first to sell the bonds they hold when they predict that the price of a certain company's bond is about to fall. Of course, if the prediction is wrong, investors will lose money.

In the face of various risks that may be encountered in the bond investment process, investors should take them seriously, use various methods and means to understand the risks, identify the risks, find the causes of the risks, and then Formulate risk management principles and strategies, use various techniques and means to avoid risks, transfer risks, reduce risk losses, and strive to obtain maximum returns.

1. Carefully conduct risk assessment before investment

Before investing, you should fully understand and master various information through various channels, and analyze the investment from both macro and micro aspects. Various risks that objects may bring.

From a macro perspective, it is necessary to accurately analyze the changes in various political, economic, and social factors; understand the cyclical characteristics of economic operations and the changing trends of various macroeconomic policies, especially fiscal policies and monetary policies; Pay attention to changes in bank interest rates and changes in various factors that affect interest rates, such as inflation rate, unemployment rate and other indicators.

From a micro perspective, it is necessary to not only grasp the country's industrial policy as a whole, but also to conduct a detailed analysis of the various factors that affect the price changes of national bonds or corporate bonds. For investors in corporate bonds, it is very necessary to understand the company's credit rating, operation and management level, product market share and development prospects, and various financial indicators of the company.

In addition, we must further understand and grasp the following conditions of the bond market: the trading rules of the bond market, the size of the market, the composition of investors, as well as the basic economic and psychological conditions, and the characteristics of market operations, etc.

2. Develop various investment strategies that can avoid risks

① Laddering of bond investment periods. The so-called maturity laddering means that investors diversify their funds into bonds of different maturities. Investors often keep short-term, medium-term, and long-term bonds in their hands. No matter when, there is always a part of bonds that are about to mature. When they are After maturity, the funds are invested in the longest-term securities. Assume that an investor has 100,000 yuan in funds, and he uses 20,000 yuan to purchase various bonds with 1-year, 2-year, 3-year, 4-year and 5-year terms. In this way, he has 20,000 yuan every year. When the yuan bond matures, the funds are recovered and then the 5-year bond is purchased, and the cycle repeats. This method is simple, easy to operate, and enables investors to use and allocate funds in a planned way.

② Diversification of bond investment types. The so-called diversification of types means that investors invest their funds in a variety of bonds, such as treasury bonds, corporate bonds, financial bonds, etc. The returns and risks of various bonds vary. Concentrating funds on investing in a certain type of bond may have various adverse consequences, such as using all funds to purchase treasury bonds. Although this investment behavior is very safe and has low risk, due to the relatively low interest rates on treasury bonds, this makes Investors lose the high returns they can get from investing in corporate bonds; if all funds are invested in high-yield low-grade corporate bonds, the returns may be high, but they lack safety and are likely to encounter operating risks and default risks. Ultimately, the promise of high returns may turn out to be in vain. The diversification of investment types can achieve the purpose of diversifying risks and stabilizing returns.

③The bond investment period is shortened. The so-called short-termization means that investors invest all their funds in short-term securities. This investment method is more suitable for my country's current corporate investors. Because most units in our country have very limited long-term funds at their disposal, only some temporarily idle funds that can be used for securities investment. Shortening the maturity period can not only make bonds highly liquid, but also achieve higher returns than bank deposits. Due to the short term of the bonds invested, once the company needs funds, it can be quickly transferred to meet the needs of production and operation. Adopting this investment method can maintain the liquidity and flexibility of funds.

3. Use various effective investment methods and techniques

①Use treasury bond futures trading for hedging. Treasury bond futures hedging transactions are very effective in avoiding interest rate risks in treasury bond investments.

Treasury bond futures trading means that when investors buy or sell Treasury bond spot in the financial market, they simultaneously make a forward transaction for the same type of bond, and then flexibly use short and long trading skills to trade between the two at the appropriate time. Hedging is performed on each transaction, and the profits and losses of futures transactions are used to offset or partially offset the profits and losses of spot transactions within the relevant period, thereby achieving the purpose of avoiding or reducing the interest rate risk of treasury bond investment.

②Accurately calculate investment returns and use this as the basis for investment decisions. The calculation of investment income is sometimes complex and must be done accurately.