On July 14, Dongfang Jincheng released a research report stating that financial, trade, and macro data for June will be released one after another in the near future. Among them, the GDP growth rate is expected to be around 4.4% in the second quarter. The economy as a whole shows a K-shaped polarization pattern of external strength and internal weakness, new strength and old weakness, and the core contradiction of weak repair of domestic demand has not been fundamentally improved. At the same time, the current funding level remains stable and relaxed, institutional underallocation pressure continues, and allocation requirements are highly resilient. As a result, weak fundamentals and rigid allocation requirements will jointly provide support for the bond market. However, it is important to note that the July market focus will gradually shift to the Politburo meeting at the end of the month, and anticipated changes in the direction of fiscal and monetary policies may trigger phased fluctuations in the bond market. Overall, until the policy direction is clear, it will still be difficult for the market to break out of the trending market. It is expected that the bond market will maintain a strong volatile pattern this week.

On July 14, Dongfang Jincheng released a research report stating that financial, trade, and macro data for June will be released one after another in the near future. Among them, the GDP growth rate is expected to be around 4.4% in the second quarter. The economy as a whole shows a K-shaped polarization pattern of external strength and internal weakness, new strength and old weakness, and the core contradiction of weak repair of domestic demand has not been fundamentally improved. At the same time, the current funding level remains stable and relaxed, institutional underallocation pressure continues, and allocation requirements are highly resilient. As a result, weak fundamentals and rigid allocation requirements will jointly provide support for the bond market. However, it is important to note that the July market focus will gradually shift to the Politburo meeting at the end of the month, and anticipated changes in the direction of fiscal and monetary policies may trigger phased fluctuations in the bond market. Overall, until the policy direction is clear, it will still be difficult for the market to break out of the trending market. It is expected that the bond market will maintain a strong volatile pattern this week.