Improved liquidity expectations, bond market sentiment turns positive.

Entering November, the monetary market continues to maintain loose conditions, and sentiment in the bond market is gradually recovering. Many institutions believe that as the pace of fiscal injection stabilizes and the pressure of medium to long-term liquidity expiration decreases, the fund is expected to maintain stable and loose operation. In addition to the central bank resuming government bond trading operations and the market's increasing expectations of loose monetary policy, the signals of the bond market warming are becoming more apparent, with short-term interest rates remaining low and long-term yields stabilizing and falling. Institutions generally believe that the bond market may present a pattern of "stable funds, declining interest rates, and warming sentiment" at the end of the year.