货币市场日报：6月25日

Monetary Policy Operations - The People's Bank of China conducted a 365.3 billion yuan reverse repurchase operation with a rate of 1.40%, unchanged from previous levels, resulting in a net injection of 209 billion yuan after 156.3 billion yuan of reverse repos matured on the same day [1] - The Shanghai Interbank Offered Rate (Shibor) for short-term instruments saw a slight increase, with overnight Shibor rising by 0.10 basis points to 1.3710%, and 7-day Shibor increasing by 4.20 basis points to 1.6710% [1][2] Interbank Repo Market - In the interbank pledged repo market, all varieties experienced slight increases, with the R007 transaction ratio rising to 15.6%, while R014 continued to be inverted [4] - The weighted average rates for DR001 and R001 rose by 0.1 basis points and 0.2 basis points, respectively, while DR007 and R007 saw increases of 2.5 basis points and 3.7 basis points [4] Money Market Rates - The overall funding situation in the money market on June 25 was balanced and slightly loose, with various rates showing minor declines post-OMO [10] - The issuance of interbank certificates of deposit totaled 100.77 billion yuan, with trading sentiment remaining subdued, particularly in the 9-month maturity segment [11] REITs Market Development - On June 25, the Huaxia Beijing Affordable Housing REIT expansion project was listed on the Shanghai Stock Exchange, marking the first successful expansion of a rental housing REIT in China, indicating a further development in the public REITs market [13]