The above mentioned IBBM structure and conduct influence the market performance directly, which declines the IBBM's liquidity and makes money market character more obvious.
上述市场结构与行为直接影响市场绩效，银行间债券市场流动性不足，货币市场特征明显。
2
The commercial Banks are the dominant institutional investors as shown by the market concentration data. This IBBM structure leads to the resemblance of bidding and transaction behaviors.