论文部分内容阅读
在债券市场发展的十年时间里,打破刚性兑付一直是市场参与方的共识,但资本市场里任何游戏规则的改变都伴随各种力量的博弈,在债市刚性兑付面前也不例外。随着笼罩在中国债市特有的刚性兑付光环逐渐退却,债务违约频频发生,投资者心态正变得愈加复杂,在风声鹤唳的当下,“刚兑”破冰才刚刚开始,债市融资将何去何从?
In the ten-year bond market development, it has been a common understanding among participants in the market to break with rigid payment. However, any change in the rules of the game in the capital market is accompanied by the game of various forces. It is no exception before the rigid bond market is honored. With the gradual retreat of the rigid cash payment enveloped in the Chinese bond market, debt defaults have taken place frequently and investors’ mentality is becoming more complicated. At this juncture, just now the “ice-breaking” of ice has just started. Where will bond financing go? ?