期待债券市场的新发展——2002年的回眸与2003年的展望

Expect new strides of the bond market A retrospect of and prospect for China's bond market

本文在回顾2002年证券交易所债券市场态势的基础上,对2003年的债券市场进行了分析和展望。笔者认为,在当前利率平稳运行但不排除向下调整、央行正回购力度减弱、债券扩容减速以及呵护债券市场的政策不断出台的环境下,2003年的债券市场将迎来新的春天。

Based on the review of the exchange bond market in 2002, this paper analyzes the trend of the bond market in 2003. Under an environment demarked by stable interest rates, a possible downward adjustment, weakened central bank repo activity, decreased bond issuances, and new favorite policies, the author believes that the bond market is going to develop vigorously in 2003.