每日债市速递 | 7月全国发行新增债券7032亿元

Group 1: Open Market Operations - The central bank announced a reverse repurchase operation of 416.1 billion yuan for 7-day terms at a fixed rate of 1.40% on August 28, with a net injection of 163.1 billion yuan after accounting for maturing reverse repos [1]. Group 2: Funding Conditions - The central bank shifted to net injection in the open market, leading to a slight easing in the interbank funding conditions. Overnight repo rates hovered around 1.31%, with a notable improvement in supply [3]. Group 3: Interbank Certificates of Deposit - The latest transaction for one-year interbank certificates of deposit was around 1.67%, remaining stable compared to the previous day [7]. Group 4: Bond Market Overview - Major interest rate bonds in the interbank market saw collective yield increases, with government bond futures closing lower across various maturities [9][13]. Group 5: Key News and Developments - Mexico plans to increase tariffs on certain Chinese products in its upcoming 2026 budget proposal to protect local businesses, while China opposes such measures [14]. - In July, the national issuance of new bonds totaled 703.2 billion yuan, with a significant portion being special bonds [14]. - The Bank of Korea maintained its benchmark interest rate at 2.5%, with revised GDP growth and inflation forecasts for 2025 and 2026 [16]. Group 6: Bond Issuance and Corporate Developments - Alibaba is reportedly seeking to refinance with a loan of 6.5 billion USD, while the issuance of technology innovation bonds by banks has reached 227.3 billion yuan [18]. - Longguang Group reported a revenue of 3.4 billion yuan in the first half of the year and is continuing its debt restructuring efforts [18].