At present, most debt bases are primary debt bases and secondary debt bases. 80% of the funds are invested in bonds, and less than 20% can be invested in stocks. Although interest rate cuts are good for the debt base and can make 80% of bonds appreciate, less than 20% of stocks actually have a huge leverage on the debt base.

Generally, this debt-based shareholding will not exceed 15%, mostly around 10%, and even around 5% in a bear market. Although this is a small part, it actually has a huge impact on a debt base, so the current debt base is very strong, that is, the stock market has a great impact on them.

Although the interest rate has been cut, if the stock market is not good these days, this debt base will still fall.