国债期货震荡小幅反弹

Industry Investment Rating - No relevant content provided Core View - Today, Treasury bond futures oscillated with a slight rebound. Recent net liquidity injections from the central bank's open market operations have provided some support for Treasury bond futures prices. However, both the upward and downward momentum of Treasury bond futures are insufficient. Macro - level investment and consumption economic data show resilience but are weakening marginally, indicating a persistent lack of effective domestic demand. In the medium - to - long - term, a relatively loose monetary environment is needed to stabilize domestic demand, and the logic for medium - to - long - term support for Treasury bond futures is solid. In the short term, there is no strong need for further monetary easing, and the possibility of a comprehensive interest rate cut is low, which restricts the upward momentum of Treasury bond futures. Overall, Treasury bond futures will mainly oscillate and consolidate in the short term [4] Summary by Directory Industry News and Related Charts - On November 17th, according to a previous announcement on the People's Bank of China's official website, the central bank conducted 800 billion yuan of outright reverse repurchase operations with a 6 - month term using a fixed - quantity, interest - rate - tender, and multiple - price winning bid method to maintain sufficient liquidity in the banking system [6] - On November 17th, the central bank conducted 283 billion yuan of 7 - day reverse repurchase operations. The bid volume, winning bid volume were both 283 billion yuan, and the operating interest rate was 1.40%, the same as before [6]