According to Jinshi Data on July 26, treasury bond futures hit a new historical high, boosted by the news that large state-owned banks lowered deposit rates and the central bank lowered the MLF operating rate by 20 basis points.

On July 25, the main contract of 30-year Treasury bond futures rose 0.4%, setting a new closing high, while the main contract of 10-year Treasury bond futures, although falling slightly, also hit a historical high during the session.

Analysts believe that short-term interest rates have dropped significantly after the interest rate cut, while long-term interest rates have been relatively restrained, but fundamental factors still support a further decline in bond yields.

Under the current market sentiment and policy environment, institutions recommend that investors be cautious in bond investments, avoid excessively extending duration, and pay attention to possible policy trends of the central bank and market adjustment opportunities.