"The upward momentum is too strong, it can be understood, but it is still shocking," a Bonds market practitioner remarked to reporters, especially describing the market since December as "smooth and flowing." Since November, under the Bullish conditions of Institutions jumping ahead of the expectations for reserve requirement ratio cuts, positioning for next year's coupon Assets, and overall controllable supply pressure, Bonds market rates have once again entered a downward channel. Recently, with the policy signaling further easing, the sentiment for buying Bonds has surged again, bringing the 10-year government bond rate to a new low. Several Institutions analyzed to reporters that considering the current low inflation level in China, there remains a demand for a reduction in real interest rates. As the central bank cuts the reserve requirement ratio and interest rates, bank deposit rates, and LPR rates continue to decline, the domestic broad interest rate center may further shift downward, and the 10-year government bond may have further room to decline. However, some Institutions have stated that after the new low in the 10-year government bond rate, the profit-taking sentiment in the Bonds market may gradually accumulate, and the resistance to further declines will also increase. (Brokerage China)