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202 1 1 19 Why did the bond market fall?
■ Market Review: The economy is better than expected, and the bond market is still weak.

65438+1October 18. In 2020, a series of major economic data of China were released, among which China's GDP exceeded1000 trillion yuan for the first time, reaching10/0.6 trillion yuan, with a year-on-year growth rate of 2.3%, which was better than market expectations. The data of new employment and industrial added value are also better than market expectations. Affected by this, the bond market remained weak and volatile, and treasury bond futures closed down. 10, the main contract decreased by 0. 12%, and the main contract decreased by 0. 13% in 5 years. In terms of interest rate bonds, the 10 national debt rose by 2BP, and the 10 national debt rose by 2BP, mostly within 3BP.

■ Primary issuance: issuance has increased.

65438+ 10 month 15, the number of primary market issues increased. In terms of AAA, Zhuhai Jinkong issued 4.06, Yuexiu Jinkong issued 3.59, Jinan issued 4. 1, Suzhou Xinjian Yuanfa issued 3.9, Sunac Real Estate issued 6.8 and China Southern Airlines issued 3.48; AA, issued by Detou Group 5.75, Binhai Traffic Management 7 and Wuhan Caidian 6. 1; No rating, Wuhan Sino-French bonds issued 6.1; In addition, there were 1 entities cancelled issuance on the day of Huai 'an Traffic.

■ Secondary transactions: Interest rates mostly go up.

65438+ 10/month 18, the transaction interest rate in the secondary market was higher than that in the previous bank. Specifically, Taizhou Yuhuan went down 1.68BP, and Xuzhou went down 6.21bp by opening the market; Jiaxing Hyundai rose 1.7 1BP, Sichuan Expressway rose by 3.7BP, Suzhou Traffic rose by 3.98BP, Beijing Investment Corporation rose by 4.3BP, and Hengyang Trading rose by 6.47BP.