中信证券：流动性收紧的风险有限，资金面大概率维持平稳

Core Viewpoint - The liquidity gap in October is expected to be weaker than seasonal trends, with limited risks of liquidity tightening due to the central bank's accommodative monetary policy stance [1] Group 1: Liquidity Analysis - The overall net financing of government bonds in October is projected to be approximately 600 billion yuan, considering the easing supply pressure from local government bond issuance plans [1] - The estimated liquidity gap for October is around 500 billion yuan, excluding factors such as the maturity of Medium-term Lending Facility (MLF) and reverse repos [1] - Fiscal spending is expected to be delayed, which may cause disturbances around mid-month [1]