Because inflationary pressure alleviates apparently, the fundamental key of Chinese macroscopical adjusting control already from restrain inflationary change to glide to control economy, monetary policy relaxes gradually. Since September, the Central Bank is reduced twice put loan interest rate and deposit reserve to lead, money is loosened make the financing volume of the flow on the market apparent increase, become big explain bought main power. And interest rate is reduced restrict with fund explain bought direct connection is in to already was released be restricted to bought department of declared fund company to get confirming.
While capital estimates increase, lower interest to come periodicly to also walk along bovine infuse for debt city powerful motive force. Release according to department of information of debenture of central national debt " portion bond market analysed a report in September 2008 " , yield of the debt in September successively be issued to lower levels, debt index rises considerably in and achieve the history new tall, 2 class market trades active. Enter after October, this one active posture is able to continue to maintain. On October 15, highest explore reachs index of card national debt 118.22 a little bit on, achieve the history again new tall, closing quotation signs up for 118.21 a little bit, rise 0.13% . And here setting falls, come this year the bond with best achievement fund hands in silver-colored Shi Luode to add benefit yield to already was achieved 8.34% . In weak city, of debt radical avoid danger ability appears particularly marked.
To this, li Wei expresses: “ double after falling, financing area is farther comfortable, apparent increase of ’ of vivid money of the ‘ in the market. Meanwhile, policy of macroscopical adjusting control lets the market anticipate to debt city again produced materiality change, investor is right of debt city in long-term development has better anticipation, also have on configuration to the tide that turns development for a long time. This makes undoubtedly bond be faced with likely with money fund large-scale explain buy. ”
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