CITIC Construction Investment: Obligasi Negara 10 Tahun Suku Bunga Tembus 2, Relay atau Rebound?

Data Gold December 4th, China Construction Investment Securities research report commented that the 10-year government bond yield fell below 2% during the trading day: from mid-November to now, the long-term Suku Bunga and credit bonds have experienced a relatively smooth decline. The market was once worried about policy stimulus and the peak of issuance, but the primary market has successfully undertaken the majority of the issuance through bidding, accelerating the decline in Suku Bunga. In addition, non-bank funds continue to recover, pushing Suku Bunga and credit spreads down significantly. Looking at the single month of December, as Suku Bunga has approached the psychological level of 2%, there may be some turbulence, while maintaining a long position, it is advisable to add positions during small swing trading. Looking into next year, the situation of under-allocated configuration plates has not changed significantly, and after the addition of year-end and early-year configuration plates, the decline in Suku Bunga bonds may be more smooth.