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The bond market is in turmoil!

In the morning trading today, the treasury bond market fell across the board, with 30-year treasury bond futures falling 1% and 10-year treasury bond futures falling nearly 0.5%. The interbank interest rate bond yields rose across the board, with 2-year, 3-year, 5-year and 7-year treasury bond yields all rising by at least 4bp, and the 30-year yield rising by 3bp.

This is the third consecutive trading day that Treasury bonds have fallen. So, is the years-long bull market in Treasury bonds over?

Some analysts believe that at present, the pressure on the treasury bond market mainly comes from two aspects: one is the regulatory level. The investigation action of the Trading Association last week has affected the bullish atmosphere; the other is the supply and demand relationship. The expected support for the bond market from the loose monetary policy may be offset to a certain extent by the increase in government bond issuance.

Selling off across the board

The volatility of the treasury bond market has increased significantly. On August 12, the maximum decline of 30-year treasury bond futures reached 1%, while the decline in the previous two trading days was not so large. The declines of 10-year, 5-year and 2-year treasury bond futures also increased. The treasury bonds in the exchange bond market fell the most, with "24 Treasury Bond 04" falling 0.88%, "24 Special National 01" falling 0.71%, "23 Treasury Bond 23" falling 0.6%, and "24 Special National 02" falling 0.5%.