货币市场日报：2月4日

Group 1 - The People's Bank of China conducted a 750 billion yuan reverse repurchase operation with a rate of 1.40%, maintaining the previous level, resulting in a net withdrawal of 3025 billion yuan due to 3775 billion yuan of reverse repos maturing on the same day [1] - The Shanghai Interbank Offered Rate (Shibor) for the 14-day term approached 1.6%, while other terms experienced slight fluctuations. Specifically, the overnight Shibor rose by 0.10 basis points to 1.3180%, the 7-day Shibor fell by 1.50 basis points to 1.4730%, and the 14-day Shibor increased by 7.20 basis points to 1.5830% [1][2] Group 2 - In the interbank pledged repo market, short-term funding prices showed little volatility. The weighted average rates for DR001 and R001 increased by 0.3 basis points and decreased by 0.2 basis points, respectively, with transaction volumes changing accordingly [5] - The interbank funding market maintained a balanced and slightly loose stance, with overnight rates fluctuating between 1.50% and 1.53%, and 7-day rates around 1.52% to 1.53% [9] - The secondary market for negotiable certificates of deposit (NCDs) remained active, with short-term yields slightly rising but stabilizing by the end of the day. The 1-month NCD ended at approximately 1.55%, while the 3-month and 6-month NCDs were around 1.585% and 1.595%, respectively [10]