每日债市速递 | 央行公开市场单日净回笼1705亿

Open Market Operations - The central bank conducted a 7-day reverse repurchase operation on August 6, with a fixed rate and quantity tendering, amounting to 138.5 billion yuan at an interest rate of 1.40%, with the same amount being awarded [1] - On the same day, 309 billion yuan in reverse repos matured, resulting in a net withdrawal of 170.5 billion yuan [1] Funding Conditions - Continuous net withdrawals by the central bank do not hinder the loose funding conditions in the interbank market, with the overnight repo weighted average rate (DR001) slightly rising but remaining around the low point of 1.31% [3] - The latest overnight financing rate in the U.S. is 4.33% [3] Interbank Certificates of Deposit - The latest transaction rate for one-year interbank certificates of deposit among major banks is at 1.63%, showing a slight decrease from the previous day [7] Government Bond Futures - The 30-year main contract fell by 0.04%, while the 10-year main contract remained flat; the 5-year and 2-year main contracts both increased by 0.02% [13] Industry News - A new standard aimed at ensuring the stable operation of information systems in the securities industry is being solicited for opinions, which will provide authoritative guidance for brokerages [14] - Inner Mongolia has announced its exit from the list of key debt provinces, which may serve as a demonstration effect for other provinces, potentially improving local financing conditions [14] Global Macro - The U.S. Treasury will auction 100 billion dollars in four-week Treasury bills, marking a record single auction size, reflecting significant financing needs [16] - The Indian central bank maintained the reverse repo rate at 3.35% and raised the cash reserve ratio to 4% from 3% [16] Bond Market Developments - Year-to-date, securities firms have issued nearly 770 billion yuan in bonds, a year-on-year increase of over 32% [18] - Jiangsu Province has been allocated a new local government debt limit of 280.1 billion yuan for 2025 [18] - Gansu Bank plans to sell a low-yield asset package worth 15.3 billion yuan to Gansu Asset Management [18] - ZTE Corporation has completed the issuance of 3.584 billion yuan in zero-coupon convertible bonds [18]