Treasury Bonds Futures All Down, Bond Market Crash.

When capital is abundant, everyone makes money, the market falls sharply, and the mother gives money, everything is printed by money.

The net sale of the mama will eventually turn into a rising price and let everyone pay the bill.

So, as long as we print money, China will not really have debt crisis or stock market crisis. But have we always been printing money to make a clean sweep of it? What will happen if credit goes bad one day?

The Fed's interest rate increase is the trigger and the market's depressed mood is pouring out.

If the bond market of the highest credit rating crashes, the financial crisis will come. So is the subprime mortgage crisis.

In December 15th, there was no precedent, and all the Treasury futures opened all down.

Ten year Treasury futures T1703 diving in the morning, about 9:30 or so, after half an hour, with strong support to open up the limit, 2:50 p.m., rebounded to 94.7.

The five year trend of TF1703 is exactly the same.

The bull market that lasted for three years has mutated in this month.

The bond market is fluctuating, the old drama is on the stage, all kinds of strong and unequal accounts are held on behalf of each other, and the former employees of the temporary workers are coming out.

This is a very, very frightening phenomenon. It even reminds me of the 327 national debt incident.

We should know that Treasury bonds are the highest financial products of credit rating. When investors think that the highest credit rating is not credible, other financial products such as corporate bonds can be imagined. We can imagine that the market has been panicked to a frantic degree.

Even more frightening is the possibility of triggering the Domino effect. Problems with high credit rating products indicate that liquidity is tight, and we sell liquid products to cash.

When the market needs cash, sell products with high liquidity first. Until the market is completely frozen, good products will not be sold.

Some believe that the move is due to the rise in interbank lending rates and the rise in interest rates on certificates of deposit causing the goods to be redeemed.

Analysts said, "risk points come from public funds, especially hybrid funds, if bonds fall.

When there is a redemption, it is not ruled out that some funds will be forced to sell assets to ensure liquidity. "

China's financial market has reached the highest level of a traditional woman who cried two times and three hangs.

The mother who has been practicing a steady policy on her lips has to play again, to protect her life or to be steady?

In December 15th, the central bank carried out 245 billion yuan counter repurchase operations, 140 billion yuan 7 days, 45 billion yuan 14 days and 60 billion yuan 28 days, the interest rates were 2.25%, 2.4% and 2.55% respectively.

On the same day, there was a 100 billion yuan reverse repurchase expired, with a net investment of 145 billion yuan and a net investment of 60 billion yuan on the previous trading day.

We have to ask a key question: why does the central bank put the life on the net without action? What's going on in the market? Foreign exchange is not starting from today. The basic currency is not so reliant on foreign exchange now. It's also a low excuse for foreign exchange.

China's bond market is down. Of course, there are external causes such as the Federal Reserve raising interest rate cycle and tight funds at the end of the year. However, the bond market in other countries has not been afraid to this extent.

First, capital outflow, low return on investment and even no return to the territory. Domestic entities are not fundamentally improving, and they continue to spend money to subsidize deficit enterprises.

The two is the ineffective circulation of funds in the financial system, expanding leverage and increasing risk in the process of circulation.

Entities are not good enough to leverage short-term financial gains in the financial system, from stock market to bond market to maturity.

The model given by Li Qilin, an analyst from the people's livelihood securities firm, is that there is a triangle debt cycle between banks and non banks and enterprises. After 2015 years, the interest rate gap between bank assets and liabilities has narrowed down, and even there has been an upside down.

The emergence of a chain of funds, namely, the issuance of financial services, the outsourcing of non silver, the allocation of credit bonds - the purchase of financial services by enterprises, the issuance of financial services by banks "has gradually formed a triangular debt cycle between banks and non banks and enterprises. It has enlarged the credit derivation function of the underlying currencies, and has also pushed up the monetary multiplier. The other side has also generated a large amount of liquidity, making the financial institutions' balance sheets expanding and increasing the allocation pressure.

It means that if you send money, banks and enterprises will not invest in entities because of low returns, while banks will circumvent restrictions and entrust external institutions to invest. Anyway, external institutions can use high leverage in pursuit of high returns. According to some people, analysis of leverage is as high as 1:8, which will continue to get money in the following market, and there will be some panic in the market, not to mention the recent decline in bond prices in recent months.

What is the difference between the stock market and the stock market last year? What is the difference between the stock market and the stock market? What is the difference between universal insurance and the stock market?

Come in and pick up the dishes.

Think of it very frightening. It is reported that Hualong and Minmetals securities are not deliverable on schedule after the interest rate debt paction. They can not support the delivery. The private seal of the original employees of the state securities company is not a day's work from the scale. The financial company culture and the market's generation of wind control are shudder. What if the whole market goes through it again?

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