Group 1 - The Ministry of Finance announced on August 18 that it will conduct 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 operations will involve selling two types of treasury bonds: 2.7 billion yuan of the 2025 coupon-bearing bonds (10-year) and 2.8 billion yuan of the 2025 coupon-bearing bonds (12-year), with a competitive bidding time set for August 19 from 11:05 to 11:35 [1] - The treasury bond market-making support mechanism allows the Ministry of Finance to use buy and sell tools in the interbank bond market to support market makers in trading newly issued key maturity treasury bonds [1] Group 2 - According to Zeng Yu, Chief Fixed Income Analyst at CITIC Securities, the treasury bond market-making support operations are regularly conducted and have minimal impact on current market yields [2]
提高市场流动性 财政部开展国债做市支持操作
Zhong Guo Zheng Quan Bao·2025-08-18 23:21