Li Chao: What do you think of the bond market in the fourth quarter, especially after the end of the year?

Recently, Li Chao, Chief Economist of Zheshang Securities, and Chen Hongbin, Chief Economist of Pengyang Fund, were guests on the "Observer Talk" program. This episode discussed the economic data for the third quarter. During the Q&A session, Chen Hongbin asked Li Chao what he thought about the bond market in the fourth quarter, especially after the end of the year? Li Chao believes. Firstly, the current attitude of the central bank can be seen in the short term, and some adjustments have been made. The central bank's reverse repo rate is above 1.8%, which also indicates its attitude that it does not want such high bond leverage. In addition, there is an expectation of profit taking in the fourth quarter. Indeed, there will be a phased characteristic of a bear turn or a significant increase in interest rates. Returning to macroeconomic fundamentals, after all, the current trend of economic stability is not particularly certain.