Debt market volatility becomes a "touchstone", banks shift from "focus on allocation" to enhancing trading capabilities.

In the first half of this year, there was a significant differentiation in non-interest income among A-share listed banks, with investment income and fair value changes fluctuating and affecting overall revenue performance. Industry insiders believe that some banks rely on disposing of existing bond holdings to realize floating profits, stabilizing profit performance in the short term. However, "eating up inventory" is not sustainable in the long run, and in the second half of the year, bank bond investments will further test trading capabilities and risk hedging levels.