中信证券指出当前债市面临多重因素影响。一方面若政策有效抑制无序竞争、推动行业出清并促使价格回升将对通胀形成支撑进而对债市

智通财经
10 Jul
中信证券指出当前债市面临多重因素影响。一方面若政策有效抑制无序竞争、推动行业出清并促使价格回升将对通胀形成支撑进而对债市构成冲击。但当前市场仍担忧基本面与通胀改善的持续性叠加内外需疲弱、财政与地产压力等因素政策效果短期内或较温和。同时货币政策仍维持偏宽松流动性充裕配置需求强为债市提供支撑。短期来看利差压缩、杠杆高企和资金利率低位使债市脆弱性上升而权益与商品市场强势对债市形成扰动。建议关注7月风险资产走势把握债市调整后的布局机会。

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