债市收盘|长期限活跃券交易量萎缩，10年国债收益率小幅下行0.2bp

Core Viewpoint - The bond market is experiencing narrow fluctuations due to a lack of trading drivers, but there are no clear negative factors impacting it [1][3]. Market Performance - The 10-year government bond yield slightly decreased by 0.2 basis points to 1.639% [1][3]. - The 30-year government bond yield remained unchanged at 1.8515% [1][3]. - The trading volume for 10-year and 30-year active bonds was below 1,000 transactions by the end of the day [3]. Futures Market - The 30-year main contract for government bond futures fell by 0.04% to 121.150 yuan, while the 10-year main contract remained flat at 109.105 yuan [1][3]. - The 30-year main contract opened at 121.34 yuan but subsequently declined [3]. Monetary Policy - The central bank conducted a reverse repurchase operation of 106.5 billion yuan at a fixed rate of 1.40%, with a net withdrawal of 225 billion yuan for the day [3]. - The Shibor short-term rates mostly declined, with the overnight rate dropping to 1.312%, the lowest since December 2024 [4]. Credit Market - The trading volume for non-financial credit bonds showed significant declines, with the top five falling bonds listed [8]. - Conversely, the top five rising non-financial credit bonds also showed positive performance [8]. Interbank Rates - The interbank repo rates showed mixed movements, with some rates remaining stable while others increased slightly [5][6][7].