PMI data seasonal rebound does not change the trend of economic decline

Source: Internet
Author: User
Keywords Seasonal
-Liu Xingwang yesterday's securities index closed at 126.64, a slight rise of 0.02%, the overall small increase in national debt. Yesterday, the market opened after the shock lower, in the redemption period of the Xiamen and ferrous metal type of debt to new steel, the Tang steel transfer debt before the decline.  ICBC transfer of debt after the end of the return of funds to loose, in Wednesday, four small and medium-sized stock IPOs, financing is not large, the exchange rate is expected to continue to fall back. Last week the central bank maintained a net withdrawal operation idea, through the open market net withdrawal of 91 billion yuan of funds, the issue rate of the central vote to maintain stability, but by ICBC transfer debt purchase impact, the money market is tight; This week's open market is due to 100 billion yuan, maturity has increased, Tuesday central bank issued 12 billion yuan 1-year vote,  This week's 3-year period is not a time slot, and the central bank is expected to have a small net release this week. In the afternoon of Wednesday, China's Logistics and Purchasing Association released its PMI data for August, with a PMI index of 51.7%, a 0.5% increase from July, and a change of three consecutive months of downward trend. Compared with the previous month, the PMI rebound in August was a seasonal factor and the economy is still in the midst of a slowdown in August, which was only slightly better than the same period in 2008.  September mid-June will usher in macro-data release intensive period, is expected to exceed the market expectations of CPI, short-term, positive negative each half, is expected to maintain a volatile bond market trend. The recent increase in the city's debt issuance has obviously accelerated gradually changed the previous coupon difficult situation, suggested that investors to the existing credit debt cautious attitude; Recently, the stock market by external influence, volatility increased, but the overall valuation is still in a reasonable position, suggesting that investors continue to pay attention to the reasonable valuation level of the palace transfer debt, pay close attention to non-ferrous metal type tongling, Transfer of debt to the tin industry.
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