“要想让债市重回健康状态,除了要监管和行业自律起作用之外,还得在利益疏导上加把劲,而使劲的方向应该是提高流动性。”在此次债市风暴中,“代持养券”是利益输送的惯用伎俩。究其原因,除去从业人员个人的道德缺失之外,债市流动性缺失也是一大因素。例如,临时性的头寸短缺需要短暂卖出,但卖出后不一定能迅速买入, “In order to get the bond market back to a healthy state, in addition to regulation and industry self-regulation play a role, but also in the interests of ease, and hard to move direction should be to improve liquidity. ” In the bond market In the storm, “holding coupons ” is the usual trick for the transfer of benefits. The reason, in addition to the lack of personal morality practitioners, the lack of liquidity in the bond market is also a major factor. For example, temporary short positions need to be short-lived, but may not be able to buy quickly once sold,