债市早报：7月金融数据发布；资金面维持平稳态势，债市偏暖震荡

Group 1: Domestic Financial Indicators - The social financing scale increased by 23.99 trillion yuan in the first seven months, with M2 balance growing by 8.8% year-on-year as of the end of July [2] - The People's Bank of China reported that the M2 balance reached 329.94 trillion yuan, reflecting a stable monetary policy aimed at supporting the real economy [2] - The central bank is guiding financial institutions to increase credit support for the service consumption sector through loan interest subsidy policies [2] Group 2: Government Bonds and Debt Market - The National Development and Reform Commission announced the allocation of 188 billion yuan in special long-term bonds to support equipment renewal investments across various sectors, impacting over 8,400 projects and driving total investment exceeding 1 trillion yuan [3] - The bond market showed a warming trend, with the yield on 10-year government bonds decreasing by 0.75 basis points to 1.7200% as of 20:00 on August 13 [8][9] - The bond auction results indicated a lack of demand for Japanese government bonds, with the 5-year bond auction showing the lowest demand since 2020, leading to a rise in yields [4] Group 3: Commodity Market Movements - International crude oil futures prices continued to decline, with WTI and Brent crude oil prices falling to $62.65 and $65.63 per barrel, respectively [5] - COMEX gold futures increased by 0.24% to $3,407.10 per ounce, while NYMEX natural gas prices rose by 1.33% to $2.819 per million British thermal units [5] Group 4: Convertible Bonds Market - The convertible bond market saw a collective rise, with major indices increasing by 0.68% to 0.69% on August 13, alongside a trading volume surpassing 100 billion yuan [19] - A total of 456 convertible bonds were traded, with 348 experiencing price increases, including a notable 20% rise in Duyuan Convertible Bond [19][20]