货币市场日报：5月22日

Group 1 - The People's Bank of China conducted a 154.5 billion yuan 7-day reverse repurchase operation at an interest rate of 1.40%, maintaining the previous rate, resulting in a net injection of 90 billion yuan after 64.5 billion yuan of reverse repos matured on the same day [1] - The overnight Shibor decreased by 4.40 basis points to 1.4650%, while the 7-day Shibor fell by 2.60 basis points to 1.5230%, and the 14-day Shibor dropped by 0.90 basis points to 1.6560% [1][2] - In the interbank pledged repo market, short-term rates continued to decline, with DR001 and R001 weighted average rates down by 3.2 basis points and 1.7 basis points, respectively, while DR007 and R007 rates decreased by 0.5 basis points and 1.1 basis points [4] Group 2 - The money market rates on May 22 showed a balanced funding situation, with overnight rates fluctuating between 1.55% and 1.60% during the day, indicating a tight but stable liquidity environment [9] - The issuance of interbank certificates of deposit was active, with 73 certificates issued on May 21, totaling 45.11 billion yuan [9] - The primary market for certificates of deposit saw a positive trading sentiment, with slight increases in yields across various maturities, reflecting a stable market environment [10] Group 3 - The People's Bank of China announced a planned 500 billion yuan MLF operation on May 23, with a one-year term, indicating ongoing monetary policy support [12] - The Deputy Governor of the People's Bank emphasized the need to support equity investment institutions among the three types of issuers of sci-tech bonds, highlighting the focus on experienced and top-ranked institutions [12]