每日债市速递 | 民营经济促进法5月份即将施行

Group 1: Open Market Operations - The central bank conducted a reverse repurchase operation of 530.8 billion yuan on April 30, with a fixed interest rate of 1.50%, resulting in a net injection of 422.8 billion yuan after accounting for 108 billion yuan in reverse repos maturing on the same day [1][4]. Group 2: Funding Conditions - Overnight and seven-day pledged repo rates for deposit-taking institutions increased, with the former rising over 24 basis points and the latter nearly 2 basis points. The latest overnight financing rate in the U.S. stands at 4.36% [4][6]. Group 3: Interbank Certificates of Deposit - The latest transaction for one-year interbank certificates of deposit in the secondary market is around 1.76%, showing little change from the previous day [8][10]. Group 4: Bond Yields - Most yields on interbank major bonds have decreased, with specific declines noted in various maturities of government bonds, such as a 0.40 basis point drop for one-year bonds and a 1.25 basis point drop for two-year bonds [10][11]. Group 5: Recent Legislative Developments - The 15th meeting of the 14th National People's Congress Standing Committee passed the Private Economy Promotion Law, effective from May 20, 2025, which includes provisions on fair competition, investment financing, and rights protection [14]. - A draft law on national development planning has been publicly solicited for opinions, aiming to enhance macroeconomic governance and promote high-quality development [14]. Group 6: Bond Market Events - Huatai Securities' 40 billion yuan public bond project has been accepted by the Shanghai Stock Exchange. The People's Bank of China conducted a 1.2 trillion yuan reverse repurchase operation in April [18][19].