又到年中节点！国债逆回购收益率悄然走高！（附攻略）

Core Viewpoint - The annualized yield of government bond reverse repos has been rising quietly, indicating potential investment opportunities as the market approaches the mid-year point [1][3]. Group 1: Market Trends - Since late June, the annualized yield for 1-day government bond reverse repos in the Shanghai market has shown a gradual upward trend, with a significant increase of 13.17% on June 25, reaching 2% during intraday trading on June 26 [3]. - Similarly, the Shenzhen market's 1-day government bond reverse repo yield also experienced a rise, with a closing increase of 13.02% on June 25 and reaching 2% intraday on June 26 [3]. - Other maturities of government bond reverse repos in both markets have also seen varying degrees of yield increases recently [4]. Group 2: Interest Rate Environment - The overall interest rate level in the market has been low, with the loan market quoted interest rates (LPR) remaining unchanged at 3.0% for 1-year and 3.5% for 5-year loans as of June 20 [6][7]. - Deposit rates have also been on a downward trend, with major banks recently lowering rates across various terms [7]. - Various "treasure-like" products have similarly seen their yield levels drop significantly compared to historical peaks [8]. Group 3: Reverse Repo Operation Guidelines - Investors can choose between Shanghai and Shenzhen markets for government bond reverse repos, with a low investment threshold of 1,000 yuan [10]. - There are multiple maturity options available, including 1-day to 182-day terms, allowing investors to select based on their cash flow needs and yield preferences [11]. - The process for placing orders involves selecting "sell" rather than "buy," and many brokerage platforms now offer user-friendly interfaces for executing these transactions [12][13].