Bonds Slow Down Trend Unchanged, Pure Debt Fund Risk Is Relatively Low.

Since last year, the bond market has been running for more than a year.

UBS Fund believes that the second half of policy certainty is larger, although the yield is in a relatively low position, but there is still a downward trend, the trend of bonds slow down, the yield volatility downward, the capital side and fundamental disturbance brings trading opportunities.

Li Yiwen, manager of UBS's annual profit increase fund, said that in terms of operational strategy, leveraged strategies can be adopted in time to enjoy lower capital interest rates brought about by a relatively loose monetary environment, while at the same time, to grasp the trading opportunities of long end interest rate debt.

From the micro level, Li Yiwen believes that although the bond market has entered the draught stage, it still needs to "tailor" the choice of strategies for different varieties.

It is worth noting that bond investment is not the same as stock, so it is difficult for individual investors to participate.

Xie Zhihua, manager of the noyen optimization income bond securities investment fund manager, said in an interview with the China Securities Journal reporter, first of all, the bond investment threshold is relatively high, which belongs to the concept of mass investment. Generally, the smallest one is only a ten million yuan fund, and it is difficult for individual investors to participate in the interbank market. Secondly, bond investment usually involves leverage operation, and through leverage to enlarge revenue, the credit analysis of a coupon requires a higher degree of professionalism, and financial statements, shareholder background and solvency have to be comprehensively judged.

For ordinary

The participation method is to invest in bond funds, but debt basis does not necessarily mean low risk and small fluctuation.

Good buy fund research center said that although bond funds are generally low.

But there is a big difference in the characteristics of different debt based risk returns.

As a whole, only the stock position is relatively low. Convertible bonds are a kind of bonds, but unlike general bonds, convertible bonds allow buyers to convert them into stocks in the specified time range, and the risk is higher than that of ordinary bonds.

Therefore, the risk of partial debt and convertible bond fund is higher than that of pure debt debt.

Investors should understand the allocation of underlying securities in the purchase of bond funds.

Secondly, it is suggested that investors should pay attention to large fund companies with strong stability and strong strength.

Good buy fund research center believes that in the current market situation, in order to avoid interference in the stock market volatility and enhance revenue, it is recommended to choose not to invest in stocks and convertible bonds, a higher leverage pure debt base.

Although there is still no shortage of money in the market, "asset allocation shortage" has begun.

In the first half of the year, when the stock market was booming, the bond market was mercilessly ignored.

Nowadays,

Investment is returning to investors' perspective.

Some public funds believe that in the second half of the year, the trend of the market will continue.

Noah fund analysis, the two quarter GDP growth rate of 7%, basically in line with expectations.

But August data show that the downward pressure on the economy is still relatively large, and the moderately loose monetary environment is still the future direction.

Monetary policy and fiscal policy provide enough liquidity for the market. In the context of market risk aversion and interest rates running out of CPI, the bond market will usher in the best era.

"As the economy continues to slump, the double fall of monetary policy in August may just be a start. The actual easing will probably exceed expectations, and the bond market will continue to be a favorable policy.

Secondly, IPO postponed the disappearance of the new dividend, and the two level market shock caused the volatility of convertible bonds, graded A and other quasi fixed income varieties to fluctuate. The funds hoarding in the early stage are expected to continue to divert to the bond market for the purpose of avoiding risks.