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货币市场日报：6月5日
Xin Hua Cai Jing·2025-06-05 13:43

Core Viewpoint - The People's Bank of China (PBOC) conducted a 126.5 billion yuan reverse repurchase operation with a rate of 1.40%, maintaining the previous level, resulting in a net withdrawal of 139.5 billion yuan from the market due to 266 billion yuan of reverse repos maturing on the same day [1][15]. Summary by Category Monetary Policy Operations - The PBOC's reverse repurchase operation on June 5 amounted to 126.5 billion yuan at a rate of 1.40%, with a net withdrawal of 139.5 billion yuan from the market [1][15]. - On June 6, the PBOC plans to conduct a 1 trillion yuan buyout reverse repurchase operation with a term of 3 months [15]. Interbank Market Rates - The Shanghai Interbank Offered Rate (Shibor) showed slight fluctuations, with the overnight Shibor remaining unchanged at 1.4080%, while the 7-day Shibor decreased by 0.90 basis points to 1.5340% [1][2]. - The 14-day Shibor increased by 1.50 basis points to 1.5910% [2]. Repo Market Activity - In the interbank pledged repo market, short-term funding prices remained stable, with an increase in overnight transaction volumes. The weighted average rates for DR001 and R001 decreased by 0.1 basis points to 1.412% and 1.457%, respectively, with transaction volumes increasing by 266.3 billion yuan and 540.7 billion yuan [6]. - The weighted average rates for DR007 and R007 decreased by 0.4 basis points and 0.7 basis points, respectively, with transaction volumes decreasing by 24.9 billion yuan and 89.9 billion yuan [6]. Financial Market Conditions - The funding environment on June 5 was balanced and slightly loose, with overnight and 7-day repo transaction prices showing a slight decline compared to the previous day [12]. - By the end of the day, overnight repo transaction prices stabilized around 1.45%, while 7-day repo prices were around 1.50% [12]. Interbank Certificate of Deposit Issuance - On June 5, there were 90 interbank certificates of deposit issued, with an actual issuance volume of 59.33 billion yuan. The yields on various maturities showed a downward trend [13].