Return to basic fundamental logic. The independent trend of the Chinese bond market is highlighted.

The Federal Reserve cut interest rates by 25 basis points, while at the same time the Chinese bond market saw a trend towards independence. On September 18th, bond futures closed collectively lower, with the long end leading the decline. Bond yields were volatile, with the yield on 10-year bonds eventually breaking through the 1.78% level. Market participants explained that securities firms were the main sellers, while mutual funds and insurance funds were engaged in repeated buy-sell battles. Although there was buying interest from insurance funds, overall safe-haven funds were not enough to support the market.