Guotai Junan: China bond market "bear steep", US bond market "bull flat", Powell signals a high probability of interest rate cuts in September

ChainCatcher news, according to Jinshi reports, Guotai Junan Securities research pointed out that the China bond market shows a "bear steepening" characteristic, with the yield curve shifting upward overall, and the 10Y-2Y yield spread widening, while AAA-rated credit bond yields are generally rising.

In contrast, U.S. Treasuries exhibit a "bull flattening" characteristic, with the yield curve shifting downward overall, and the 10Y-1Y yield spread narrowing. Powell stated at the Jackson Hole Economic Symposium on August 22 that the balance of economic risks has changed, borrowing costs are dragging down the economy, and inflation risks are controllable, signaling a high probability of interest rate cuts in September.