国债期货：买断式逆回购提供流动性，曲线走陡

Group 1: Report Industry Investment Rating - No information provided Group 2: Core Viewpoints of the Report - On June 5, the 30 - year Treasury bond futures main contract fell 0.16%, the 10 - year main contract fell 0.01%, the 5 - year main contract rose 0.02%, and the 2 - year main contract rose 0.04% [2] - The trend strength of Treasury bond futures is 0, indicating a neutral outlook [8] Group 3: Summary by Relevant Catalogs 1. Fundamental Tracking - Treasury Bond Futures Prices: On June 5, the 30 - year Treasury bond futures main contract (TL2509) closed at 119.310, down 0.16%; the 10 - year main contract (T2509) closed at 108.720, down 0.01%; the 5 - year main contract (TF2509) closed at 106.030, up 0.02%; the 2 - year main contract (TS2509) closed at 102.430, up 0.04% [2][3] - Funding Rates: Overnight shibor was 1.4080%, unchanged from the previous trading day; 7 - day shibor was 1.5340%, down 0.9bp; 14 - day shibor was 1.5910%, up 1.5bp; 1 - month shibor was 1.6200%, unchanged from the previous trading day [2] - Repo Market: On June 5, the inter - bank pledged repo market traded 2.7 billion yuan, an increase of 10.23%. Overnight repo rate was 1.40%, down 2bp; 7 - day repo rate was 1.60%, up 10bp; 14 - day repo rate was 1.60%, up 2bp; 1 - month repo rate was 1.60%, down 6bp [4] - Yield Curves: Treasury bond yield curve showed mixed movements (2Y down 2.36BP to 1.44%; 5Y down 0.67BP to 1.56%; 10Y up 0.43BP to 1.67%; 30Y up 0.70BP to 1.90%). Credit bond yield curve also showed mixed movements [4] 2. Macro and Industry News - On June 5, 126.5 billion yuan of 7 - day reverse repurchase operations were carried out, with 266 billion yuan of 7 - day reverse repurchases maturing, resulting in a net withdrawal of 139.5 billion yuan [7] - On June 6, 2025, the People's Bank of China will conduct 1 trillion yuan of outright reverse repurchase operations with a term of 3 months (91 days) [7] 3. Trend Intensity - The trend intensity of Treasury bond futures is 0, with a neutral outlook [8]