Shenwan Hongyuan: The bond market will still be in a long window from June to August, and the pace may switch to interest rate bonds.

Shenwan Hongyuan report stated that China's monetary policy has a loose tone and real financing is still weak, the bond market is still in a buying window from June to August, and the bond market pace may switch to interest rate bonds. It is recommended to maintain duration and wait for positive results. Fixed income analyst Huang Weiping and others stated in the report that the recent credit bond market is relatively strong, not substantial funds moving from deposits to non-bank institutions, but more of an expected effect of deposit migration after the deposit rate reduction, institutions are trading based on expected results.