Huaxi Securities: August bond market may usher in a shining moment.

Huaxi Securities pointed out that the bond market in August may usher in a shining moment. The first variable is the outcome of the tariff negotiations between China and the United States, which may escalate into a major determinant of asset pricing. Second, data from July's PMI and the bill market show that demand remains weak, while expectations of short-term policy stimulus are falling back. Third, the cooling of commodity markets also provides a positive impact on the bond market. Fourth, the funding rate in August may easily reach the low point of the year. Fifth, institutional funds may flow back into the bond market.