Equity Research Report Fixed Income Reviewing Bond Market Volatility in Terms of Financial Security Huatai Research 13 August 2024 | China (Mainland) Weekly Analyst SAC No. S0570518110002 SFC No. AMB145 +(86) 10.6321.1166 Our core views The financial system exhibits pro-cyclical characteristics, and central bank regulation plays a crucial role in maintaining financial stability and policy credibility. However, given the current economic fundamentals and the pace of fiscal efforts, the PBoC is unlikely to ma ...