2009-2010年债券市场运行分析与展望

2009年，在适度宽松的货币政策和积极财政政策引导下，我国债券市场得以克服国际金融危机负面影响，继续保持稳定运行态势。各类证券发行量稳步增长，二级市场交易量温和放大，指数出现回调，债市与股市互动明显。展望2010年，在通胀预期和货币政策从紧预期影响下，市场利率有望上行，指数震荡幅度加大，商业性证券发行量继续增加，政府债券发行会有所控制。

China's bond market:2009 performance and 2010 prospects

With the moderately easy monetary policy and positive fiscal policy,China's bond market overcame the international financial crisis and remained stable in 2009.Bond issuance increased steadily and turnover in the secondary market expanded moderately.The index declined and showed a clear interaction between the bond market and stock market.As for 2010,impacted by the expectations of inflation and tightened monetary policy,the market interest rates may increase and the index may fluctuate widely.Commercial bo...