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国库券在发行结束后,便相应地转入了二级市场,参与流通。虽说国债的到期兑付不存在风险,但在流通领域中,由于交易价格、市场供需等情况的变化,其价值会有一定的损益。国债价值的部分损失会导致流通的不畅,进而会给国债的发行带来不利的影响,因为流通性不好的债券是不会受到群众欢迎的。因此笔者建议,在国债的流通领域中引进政府行为,通过参与国债的买卖,稳定其价格,促进流通。政府行为可产生以下的作用:
After the issuance of Treasuries, they transferred to the secondary market accordingly and participated in the circulation. Although there is no risk in the maturity payment of government bonds, in the field of circulation, the value of the bonds will have a certain profit and loss due to changes in the transaction price and market supply and demand. Part of the loss of the value of treasury bonds will lead to poor circulation, which in turn will have a negative impact on the issuance of treasury bonds, because bonds with poor liquidity will not be welcomed by the masses. Therefore, I propose to introduce government actions in the circulation of government bonds and stabilize their prices and promote circulation by participating in the trading of government bonds. Government actions can have the following effects: