1, the bond market will have a good trend in the premise and cycle of interest rate cut expectations, but it will be weak in the expectation of interest rate increase and interest rate increase.

At present, it is less likely that China will continue to cut interest rates after several interest rate cuts, and the possibility of raising interest rates in the later economic recovery will increase, which is not good for bonds.

2. Recently, it broke out that several senior executives of large institutions were investigated for holding bonds and other events, involving bond-related issues, which may increase bond risks. Investment in bonds and bond-related products is not recommended.