May 10, 2021 06:59 AM (GMT+8) · EqualOcean
The capital gap has not increased significantly, and the market liquidity is expected to remain stable in May. Recently, some investors are worried that the market liquidity may tighten marginally in May, and even think that the capital gap may exceed 1 trillion yuan. In this regard, analysts said that this value was obviously overestimated, and the impact of capital disturbance factors on the market in May was limited. In view of the disturbance factors such as the increase of local bond issuance and the final settlement of income tax in May, the fixed income research group of CICC believes that the tone of monetary policy has not changed, the conventional liquidity gap will be effectively hedged, there is no need to worry about the tightening of capital, and the money market interest rate is expected to remain stable.

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