BNP Paribas: Bond market's significant pump reflects concerns about economic slowdown, but this sentiment may be excessive.

Jinshi data, August 2nd, French Societe Generale Bank’s interest rate strategist said that the current significant pump in global bond prices and the increasing expectations of interest rate cuts indicate that investors are feeling nervous about a more substantial economic slowdown. However, this reaction may be somewhat exaggerated. They stated in a report, ‘Recent data has hardly proven this unease to be justified.’ However, strategists say that this momentum is difficult to dissipate. They maintain a neutral stance on bonds and continue to favor trades with steeper yield curves.