市场流动性周报

Treasury Market - As of March 1, the yields for 1-month, 3-month, 6-month, 1-year, 3-year, 5-year, 10-year, and 30-year government bonds are 1.4439%, 1.6280%, 1.6885%, 1.7833%, 2.1405%, 2.2632%, 2.3675%, and 2.4915% respectively, with changes of -3.61BP, +7.68BP, -3.30BP, +1.34BP, +1.71BP, +1.37BP, -3.34BP, and -8.94BP compared to February 23[2]. Monetary Policy - From February 26 to March 1, the central bank conducted reverse repurchase operations totaling 11,640 billion yuan, with 5,320 billion yuan maturing, resulting in a net injection of 6,320 billion yuan[7]. - An estimated 11,640 billion yuan in reverse repos is expected to mature this week[28]. Money Market - As of March 1, the weighted average interbank lending rate decreased by 8.98BP to 1.82%, while the weighted average pledged repo rate fell by 6.58BP to 1.84%[12]. - The overnight SHIBOR, 1-week SHIBOR, 2-week SHIBOR, and 1-month SHIBOR rates are 1.6940%, 1.8060%, 1.9860%, and 2.0880% respectively, with changes of -5.30BP, -1.00BP, -13.30BP, and -3.40BP compared to February 23[12]. Foreign Exchange Market - As of March 1, the USD/CNY central parity rate decreased by 5BP to 7.1059, while the spot exchange rate increased by 1BP to 7.1985, which is 926BP higher than the central parity[9]. - The offshore USD/CNY spot rate rose by 43BP to 7.2100, exceeding the onshore spot rate by 115BP[9].