货币市场日报：6月30日

Monetary Policy and Market Operations - The People's Bank of China conducted a 7-day reverse repurchase operation of 331.5 billion yuan, maintaining the operation rate at 1.40% [1] - With 220.5 billion yuan of 7-day reverse repos maturing on the same day, the net injection into the open market was 111.0 billion yuan [1] Interbank Offered Rates - The Shanghai Interbank Offered Rate (Shibor) for short-term products rose across the board, with the 7-day Shibor leading the increase [1] - Specifically, the overnight Shibor increased by 5.10 basis points to 1.4220%, while the 7-day Shibor rose by 9.50 basis points to 1.7630% [2][3] - The 14-day Shibor saw a smaller increase of 1.10 basis points, reaching 1.7660% [2] Repo Market Activity - In the interbank pledged repo market, short-term rates increased significantly, with DR001 and R001 weighted average rates rising by 14.2 basis points and 83.5 basis points, respectively [4] - The transaction volumes for DR001 and R001 decreased by 363.6 billion yuan and 414.6 billion yuan, respectively [4] - The weighted average rates for DR007 and R007 also increased, with DR007 rising by 21.9 basis points to 1.9159% and R007 increasing by 8.5 basis points to 2.0056% [4] Funding Conditions - On June 30, the funding environment was tight in the morning, influenced by the quarter-end [9] - The overnight lending rates ranged from 3.50% to 3.80%, while the 7-day credit lending rate opened around 2.05% [9] - By the afternoon, the funding conditions balanced out but remained slightly tight, with overnight lending rates dropping to around 1.75% by the end of the trading day [9] Interbank Certificate of Deposit Issuance - As of June 30, there were 32 interbank certificates of deposit issued, with a total issuance amount of 16.78 billion yuan [9]