Domestic bond market remains unruffled by overseas disturbances, resilience highlighted with "self-reliance" as the focus.

Recently, there has been increased pressure in the overseas bond market. The yield on the 10-year US Treasury bond has risen to around 4.6%, while the yields on Japanese and European bonds have also increased. The fluctuation of global long-term interest rates has attracted market attention. In contrast, the domestic bond market has remained relatively stable, with limited increases in yields and quickly returning to its normal operating track after experiencing some emotional disturbances. Many industry insiders believe that the main factors affecting the overseas bond market currently are geopolitical conflicts, imported inflation, and the US Federal Reserve's pause in interest rate cuts. Meanwhile, the main pricing factors in the domestic bond market are still loose liquidity, weak fundamentals, and pressure from underweight assets. The pricing logic in the domestic and overseas bond markets is significantly different, with the domestic market showing a more dominant "me-first" characteristic.