Gold ten data December 5th news, Tianfeng Securities research report believes that looking forward to 2025, there is still a solid logic foundation for bond bulls: pressure on the balance sheet, insufficient effective demand, and asset shortage. Monetary easing may be one of the most certain trading directions in 2025. Of course, it is also necessary to pay attention to the risk warning of interest rates, the intervention and guidance of the Central Bank is not simply to provide the lower limit of interest rates, but to hope to change the unilateral consistency expectation and behavior of the market, and guide the phase adjustment of the interest rate curve. It is recommended to trade the bull and the flat at the beginning of 2025, and then watch the situation while walking, and see whether there is a need for policy addition and bull steep switching in the middle of the year.
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Tianfeng Securities: Looking ahead to 2025, the bond bull still has a solid logical basis.
Gold ten data December 5th news, Tianfeng Securities research report believes that looking forward to 2025, there is still a solid logic foundation for bond bulls: pressure on the balance sheet, insufficient effective demand, and asset shortage. Monetary easing may be one of the most certain trading directions in 2025. Of course, it is also necessary to pay attention to the risk warning of interest rates, the intervention and guidance of the Central Bank is not simply to provide the lower limit of interest rates, but to hope to change the unilateral consistency expectation and behavior of the market, and guide the phase adjustment of the interest rate curve. It is recommended to trade the bull and the flat at the beginning of 2025, and then watch the situation while walking, and see whether there is a need for policy addition and bull steep switching in the middle of the year.