Sou Hu Cai Jing·2025-11-05 02:57Group 1: Federal Reserve Officials' Perspectives - San Francisco Fed President Daly supports the recent 25 basis points rate cut, suggesting further slight reductions are appropriate given inflation is around 3%, above the 2% target, but has significantly decreased [2] - Chicago Fed President Goolsbee expresses a more hawkish stance, undecided on supporting a December rate cut, citing a higher threshold for easing due to persistent inflation above target for four and a half years [2] - Fed Governor Cook leans dovish, indicating that the December meeting remains a potential opportunity for a rate cut, highlighting rising risks in both inflation and employment [2] Group 2: Market Activity and Debt Issuance - GLPCHI has repurchased and canceled $205 million of notes, approximately 29.29% of the initial principal amount [3] - China Cinda (Hong Kong) is considering issuing offshore bonds in USD and RMB to raise about $1.2 billion [3] - Ronsin China plans to extend the maturity of six company bonds by six months to gain more time for debt restructuring [3] Group 3: Bond Yield Information - As of November 3, the yield on China's two-year government bonds is 1.41%, while the ten-year yield is 1.79% [6] - The yield on the US two-year government bonds increased by 1 basis point to 3.60%, and the ten-year yield rose by 2 basis points to 4.13% [6] Group 4: Market Performance of Chinese Dollar Bonds - The top gainers in Chinese dollar bonds include DAFAPG with a price increase of 221.739% and ZHPRHK with an increase of 148.949% [9] - The top losers include DAFAPG with a price decrease of 78.402% and JINGRU with a decrease of 34.072% [9] Group 5: Central Bank Operations - The People's Bank of China conducted a reverse repurchase operation of 117.5 billion yuan at a fixed rate of 1.40%, with a net withdrawal of 357.8 billion yuan on the day [11]