Expected annualized income of bond funds and economic growth. If the economic growth slows down or even declines, it will be beneficial to the bond market. Because the central bank may cut interest rates to stimulate the economy.

Expected annualized income and price level of bond funds. If CPI is an increasing trend, it will have a negative impact on the bond market, because the central bank may raise interest rates to curb price increases. However, the CPI shows a downward trend, and the pressure of the central bank to raise interest rates is declining, and even interest rates may be cut, which will have a positive impact on the bond market.

Expected annualized income and capital situation of bond funds. If funds are abundant, especially for conservative financial products (such as bonds), the bond market will perform better.