Goldman tells clients to take profits on China stocks following yesterday's surprise jump in inflation, which suggests more tightening could be on the way. Prompting the obvious question: If there is little equity upside left in China, what does that say for the rest of the world?
两级市场之间,相同债券的yield 应该是相同的,这是金融市场的基本原理。所以FED 在一级市场上的债券auction 行为,就为债券市场设定了参考标准yield。如果某次拍卖Yield 升高(因为primary delar 给出的bid 所致),则整个债券市场就会是个sell off 行情,反之亦然。