每日债市速递 | 商务部将出台扩大服务消费的若干政策措施

Group 1: Open Market Operations - The central bank conducted a reverse repurchase operation on August 27, with a fixed rate and quantity tendering, amounting to 379.9 billion yuan for a 7-day term at an interest rate of 1.40%, with the same amount being awarded [1] - On the same day, 616 billion yuan of reverse repos matured, resulting in a net withdrawal of 236.1 billion yuan [1] Group 2: Funding Conditions - The central bank's reverse repurchase operations were reduced in volume, continuing to withdraw funds, leading to a relatively loose interbank market at the beginning of the day, which tightened as the day progressed [3] - The overnight repo weighted average rate for deposit institutions slightly decreased, hovering around 1.31% [3] - The overnight quotes in the anonymous click (X-repo) system rose from 1.30%-1.35% to 1.45%, indicating limited supply [3] - The latest overnight financing rate in the U.S. was reported at 4.37% [3] Group 3: Interbank Certificates of Deposit - The latest transaction rate for one-year interbank certificates of deposit among major banks was around 1.67%, remaining stable compared to the previous day [7] Group 4: Bond Market Overview - The yields on major interbank bonds showed mixed movements [9] - Government bond futures closed collectively higher, with the 30-year main contract rising by 0.24%, the 10-year by 0.08%, the 5-year by 0.07%, and the 2-year by 0.02% [13] Group 5: Economic Indicators - In July, profits of industrial enterprises above a designated size fell by 1.5% year-on-year, with the decline narrowing by 2.8 percentage points compared to June [14] - High-tech manufacturing profits shifted from a decline of 0.9% in June to a growth of 18.9% in July, significantly contributing to the overall profit growth of industrial enterprises [14] - The Ministry of Commerce announced plans to introduce policies next month to expand service consumption, utilizing fiscal and financial measures to enhance service supply capabilities [14] Group 6: Government Debt Issuance - The Ministry of Finance successfully issued 12.5 billion yuan of government bonds in Hong Kong, with various minimum acceptance prices for different maturities [14] Group 7: Local Government Initiatives - Xiamen has implemented a personal bankruptcy protection regulation, allowing individuals unable to repay debts to undergo restructuring or liquidation [14] - The Shanghai Municipal Government has released implementation opinions to accelerate the renovation of urban villages, prioritizing areas with urgent community needs and safety concerns [15]