Proceedings of the 2026 6th International Conference on Enterprise Management and Economic Development (ICEMED 2026)

2026 6th International Conference on Enterprise Management and Economic Development (ICEMED 2026)

📍Beijing, China🗓️ 24-26 April 2026
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Research on the Transmission Mechanism of Monetary Policy Shocks to Fixed-Income Market Prices

Authors
Xuan Xuan1, *
1Macau University of Science and Technology, Macao Special Administrative Region, China
*Corresponding author. Email: 3127726606@qq.com
Corresponding Author
Xuan Xuan
Available Online 9 July 2026.
DOI
10.2991/978-94-6239-719-4_48How to use a DOI?
Keywords
Monetary Policy; Fixed-Income Market; Transmission Mechanism
Abstract

The fixed-income market acts as a core carrier for social capital allocation and a pivotal hub for monetary policy transmission. Its price formation mechanism directly determines the financing cost of the real economy and the stability of macroeconomic performance. Against the background of China’s continuous advancement in interest rate liberalization, this paper focuses on the transmission mechanism of monetary policy shocks to fixed-income market prices. It systematically analyzes the transmission pathways and intrinsic mechanisms through which monetary policy shocks affect fixed-income market prices, and identifies the factors influencing transmission efficiency. The study finds that monetary policy exerts a synergistic impact on fixed-income market prices via four channels: interest rate, liquidity, credit and expectation. However, the transmission effect is constrained by multiple factors, including the maturity of interest rate liberalization, market liquidity segmentation, asset allocation behaviors of financial institutions, policy expectation management and macroeconomic cycles. This paper clarifies the transmission logic and constraints of monetary policy on fixed-income market prices, providing theoretical and practical references for optimizing monetary policy and promoting the sound development of the fixed-income market.

Copyright
© 2026 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 2026 6th International Conference on Enterprise Management and Economic Development (ICEMED 2026)
Series
Advances in Economics, Business and Management Research
Publication Date
9 July 2026
ISBN
978-94-6239-719-4
ISSN
2352-5428
DOI
10.2991/978-94-6239-719-4_48How to use a DOI?
Copyright
© 2026 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Xuan Xuan
PY  - 2026
DA  - 2026/07/09
TI  - Research on the Transmission Mechanism of Monetary Policy Shocks to Fixed-Income Market Prices
BT  - Proceedings of the 2026 6th International Conference on Enterprise Management and Economic Development (ICEMED 2026)
PB  - Atlantis Press
SP  - 417
EP  - 423
SN  - 2352-5428
UR  - https://doi.org/10.2991/978-94-6239-719-4_48
DO  - 10.2991/978-94-6239-719-4_48
ID  - Xuan2026
ER  -