对于债券投资者而言,CPI是一个较为重要的指标。由于债券收益率是名义利率,其中隐含了对未来通货膨胀的补偿,所以CPI指标与债券收益率保持较高的正相关性。长期来看,CPI指标和债券收益率趋势相同,通胀率较高(低)的年份债券市场也往往走熊(牛);短期来看,CPI指标超出(低于)预期也会带来债券市场的 For bond investors, CPI is a more important indicator. Since bond yields are nominal interest rates, implying compensation for future inflation, CPI indicators maintain a high positive correlation with bond yields. In the long run, the CPI and bond yields tend to be the same in the long run, while the bond markets with high and low inflation rates tend to take bears. In the short term, exceeding (below) expectation of CPI will bring bond market of