【立方债市通】河南完成发行478亿政府债券/河南AAA主体完成发行15亿可续期公司债/国债期货全线下跌

Group 1: Government Bond Issuance - Henan Province successfully issued government bonds totaling 478.3414 billion yuan, including 294.1451 billion yuan in refinancing general bonds and 46.9677 billion yuan in refinancing special bonds, primarily for repaying maturing bonds [1] - The newly issued special bonds amount to 137.2286 billion yuan, allocated to various projects including urban development, social services, and infrastructure [1] Group 2: Market Dynamics - On October 20, government bond futures closed lower across the board, with the 30-year main contract down 0.37% and the 10-year main contract down 0.14% [2] - The yields on major interbank rate bonds increased, with the 10-year national development bond yield rising by 1.3 basis points to 1.918% [2] Group 3: Central Bank Operations - The central bank conducted a 1,890 billion yuan 7-day reverse repurchase operation at a rate of 1.40%, resulting in a net withdrawal of 648 billion yuan for the day [3] - Shibor rates showed mixed performance, with the overnight rate down by 0.1 basis points while the 7-day and 14-day rates increased [3] Group 4: Regional Investment Projects - Zhengzhou plans to add 15 urban renewal projects with a total investment of 47.65 billion yuan, as announced by the city's Urban Construction Bureau [4] Group 5: Corporate Bond Issuance - Henan Guohong Financing Leasing plans to issue 1.5 billion yuan in asset-backed securities (ABS) with a management fee rate of 0.08% [6] - Hebi Investment Group intends to issue 650 million yuan in medium-term notes with a subscription range of 2.20% to 3.50% [8] - Henan Transportation Investment Group completed the issuance of 1.5 billion yuan in renewable corporate bonds at a rate of 2.30% [9] - Xinzheng Investment Group completed the issuance of 1.2 billion yuan in corporate bonds at a rate of 2.49% [10] - Anyang Steel received approval for the registration of 2 billion yuan in medium-term notes and short-term financing bonds [11] Group 6: Market Sentiment and Outlook - CITIC Securities stated that the current risk of rising bond yields is limited, and the bond market's recovery trend is expected to continue [17] - Huatai Fixed Income noted that the overall environment for the bond market in the fourth quarter is slightly better than in the third quarter, with expectations of fluctuating market conditions [18]