每日债市速递 | 买国债的利息免税标准调整

Group 1: Open Market Operations - The central bank announced a 126 billion yuan reverse repurchase operation on August 1, with a fixed rate of 1.40% and a total bid amount of 126 billion yuan, resulting in a net withdrawal of 663.3 billion yuan for the day [1] - A total of 16.632 billion yuan in reverse repos will mature from August 4 to August 8, with specific maturities of 4.958 billion, 4.492 billion, 3.090 billion, 2.832 billion, and 1.260 billion yuan respectively [1] Group 2: Funding Conditions - Despite the central bank's significant net withdrawal, the interbank market remained liquid, with the overnight repo weighted average rate (DR001) dropping over 8 basis points to around 1.31%, and the 7-day rate declining by 13 basis points [3] - The latest overnight financing rate in the U.S. was reported at 4.32% [3] Group 3: Interbank Certificates of Deposit - The latest transaction rate for one-year interbank certificates of deposit among major banks was at 1.635%, showing a slight decrease from the previous day [7] Group 4: Government Bonds and Futures - The closing trends for government bond futures showed mixed results, with the 30-year main contract down 0.07%, the 10-year contract down 0.02%, while the 5-year and 2-year contracts remained unchanged [14] Group 5: Policy Announcements - The Ministry of Finance and the State Taxation Administration announced that starting August 8, interest income from newly issued government bonds, local government bonds, and financial bonds will be subject to value-added tax [16] - The central bank emphasized the continuation of a moderately loose monetary policy and the importance of executing monetary policy measures effectively [16] - The National Development and Reform Commission plans to accelerate the establishment of new policy financial tools and promote private enterprises' participation in major national projects [16]