Group 1 - The Ministry of Finance announced on August 18 the implementation of treasury bond market-making support operations to enhance liquidity in the secondary market and improve the yield curve reflecting market supply and demand [1] - The operation will involve selling two types of treasury bonds: 2.7 billion yuan of the 2025 coupon-bearing bond (10th issue) and 2.8 billion yuan of the 2025 coupon-bearing bond (12th issue), with a competitive bidding time set for August 19 from 11:05 to 11:35 [1] - The treasury bonds involved in the operation will be merged for trading starting August 22, 2025, and the payment for the operation must be made by participating institutions by August 20, 2025 [1] Group 2 - The chief fixed income analyst at CITIC Securities, Zeng Yu, indicated that the treasury bond market-making support operations are conducted regularly and that the current operation is a routine measure with minimal impact on market yields [2]
提高市场流动性 健全收益率曲线 财政部开展国债做市支持操作
Zhong Guo Zheng Quan Bao·2025-08-18 20:14