【立方债市通】债市大跳水/南阳交通产投拟发债10亿/财政部将开展国债做市支持操作

Market Overview - The bond market experienced a significant decline, with the yield on the 30-year government bond rising by 4.30 basis points to 2.0370%, while the 10-year bond yield increased by 2.5 basis points to 1.770% [1] - All government bond futures, including 30-year, 10-year, 5-year, and 2-year, saw a drop, with the 30-year futures contract falling by 1.33% [1] Government Actions - The Ministry of Finance announced a plan to conduct government bond market-making support operations, selling two bond issues totaling 550 million yuan to enhance liquidity in the secondary market [2] - The Trading Association has initiated self-regulatory investigations into institutions that misused funds raised through debt financing tools [2] Regional Developments - Hunan Province is exploring the application of digital currency for the settlement of interconnected debts, aiming to support various types of bonds including technology innovation and carbon neutrality bonds [3] - Shanxi Province has implemented a trial for local bond yield curve bidding, successfully issuing 13.011 billion yuan in government bonds with an average interest rate of 1.93% [4] Corporate Financing - Zhongyuan Yuzhi Investment Holding Group plans to issue up to 4 billion yuan in debt financing tools and is selecting up to 8 lead underwriters for the project [5] - Nanyang Transportation Investment Group has received approval for a non-public issuance of corporate bonds totaling 1 billion yuan [7] Market Sentiment - The Shanghai Urban Investment Group's chairman is under investigation for serious violations, impacting market sentiment [9] - Shandong Steel Group canceled the issuance of 1 billion yuan in medium-term notes due to recent market volatility [10] Market Predictions - CITIC Securities suggests that the bond market may experience fluctuations in August to October, with the 10-year government bond yield expected to range between 1.65% and 1.80% [12][13] - The bond market's pricing of fundamentals and liquidity has weakened, with a potential for increased volatility in the coming months [13]