中长期利率走弱

Core Viewpoint - The domestic market interest rates are showing a trend of short-term strength and long-term weakness, influenced by increased short-term funding demand and poor medium to long-term financing data [1][2] Group 1: Interest Rate Trends - As of November 14, the Shanghai Interbank Offered Rate (Shibor) for overnight, 1-week, 2-week, and 9-month periods were reported at 1.363%, 1.468%, 1.509%, and 1.64%, respectively, with increases of 3.6, 4.6, 3.9, and 0.1 basis points compared to November 7 [1] - The 1-month and 3-month rates were reported at 1.518% and 1.58%, showing decreases of 0.8 and 0.4 basis points, while the 6-month and 1-year rates remained unchanged at 1.62% and 1.65% [1] Group 2: Central Bank Actions - To stabilize market interest rates amid rising short-term funding demand, the central bank increased reverse repo operations, injecting a total of 624.2 billion yuan into the market after conducting 1.12 trillion yuan in reverse repos, with 495.8 billion yuan maturing during the same period [1] Group 3: Financing Data - In October, the domestic social financing scale was 816.1 billion yuan, reflecting a year-on-year increase of 8.5%, although the growth rate has declined [1] - The new RMB loans added in October amounted to 220 billion yuan, showing a year-on-year reduction [1][2]