货币市场日报：1月8日

Group 1: Monetary Policy and Market Operations - The People's Bank of China conducted a 99 billion yuan reverse repurchase operation with a rate of 1.40%, maintaining the previous level, resulting in a net injection of 99 billion yuan into the market as there were no reverse repos maturing on that day [1] - The Shanghai Interbank Offered Rate (Shibor) for short-term instruments saw a slight increase, with overnight Shibor rising by 0.40 basis points to 1.2700%, 7-day Shibor up by 1.20 basis points to 1.4620%, and 14-day Shibor increasing by 2.90 basis points to 1.4820% [1] Group 2: Interbank Repo Market - In the interbank pledged repo market, short-term funding rates continued to fluctuate within a narrow range, with overnight rates increasing in both volume and price. The weighted average rates for DR001 and R001 rose by 0.2 basis points and 0.6 basis points, respectively, to 1.2695% and 1.3424%, with transaction volumes increasing by 3,121 billion yuan and 1,455 billion yuan [4] - The weighted average rates for DR007 and R007 showed mixed movements, with DR007 rising by 1.2 basis points to 1.474% while R007 fell by 0.6 basis points to 1.5261%, with transaction volumes decreasing by 176 billion yuan and 648 billion yuan, respectively [4] Group 3: Market Sentiment and Trading Activity - Overall, the funding environment on January 8 was balanced, with major banks lending out funds and non-bank overnight transactions occurring at rates around 1.45%. The market maintained stability post-open market operations, with overnight rates fluctuating between 1.30% and 1.42% [9] - In the secondary market for negotiable certificates of deposit, trading sentiment was generally moderate, with 1-month, 3-month, and 6-month maturities experiencing active trading. The 1-month national bank rate closed at approximately 1.54%, unchanged from the previous day, while the 3-month rate decreased by about 1 basis point to 1.60% [10]