债市“赚钱效应”怎么样了?

华尔街见闻
Jun 11, 2025

去年的债券牛市中,投资者常常听到“赚钱效应”的说法。所谓“赚钱效应”,可以简单理解为资产在持续上涨的过程中不断吸引增量资金流入、从而强化自身原有趋势的一种现象。其背后既包含交易心理的影响、也有杠杆类工具的撬动效果。进入2025年,债市先经历了一季度单边上行调整,近期又进入了窄幅波动状态,“赚钱效应”明显减弱,也对做多情绪形成了抑制。那么,现阶段债券市场的“赚钱效应”怎么样了?未来是否能够修复?本文...

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