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每日债市速递 | 资金面向暖
Wind万得·2025-09-11 22:51

Group 1: Open Market Operations - The central bank conducted a 7-day reverse repurchase operation on September 11, with a fixed rate and a total of 292 billion yuan, at an interest rate of 1.40%, with the same amount being bid and awarded [1] - On the same day, 212.6 billion yuan of reverse repos matured, resulting in a net injection of 79.4 billion yuan [1] Group 2: Funding Conditions - The funding environment improved, with the overnight repo weighted average rate for deposit-taking institutions falling over 5 basis points back below 1.4% [3] - The overnight quotes in the anonymous click (X-repo) system decreased to 1.35%, while non-bank institutions' pledging certificates and credit bonds were around 1.45% [3] - The latest overnight financing guarantee rate in the U.S. was reported at 4.40% [3] Group 3: Interbank Certificates of Deposit - The latest transaction for one-year interbank certificates of deposit in the secondary market was around 1.68% [9] Group 4: Bond Market Overview - The closing prices for government bonds showed a majority increase, with the 10-year main contract rising by 0.07% and the 5-year main contract increasing by 0.14% [13] Group 5: Recent Policy Developments - The State Council approved a two-year pilot program for market-oriented allocation of factors in ten regions, focusing on key areas and issues in factor market construction [14] - The pilot program aims to explore market-oriented allocation of talent and facilitate cross-border capital flows [14] Group 6: Global Macro Insights - U.S. President Trump criticized Federal Reserve Chairman Powell, urging for immediate significant interest rate cuts, claiming there is "no inflation" in the U.S. [16] Group 7: Bond Market Events - Longguang Group reached a revised agreement with creditors regarding offshore debt restructuring [18] - R&F Properties proposed an overall domestic bond restructuring plan for its domestic bondholders [18] - New Power Real Estate and its subsidiaries faced overdue debts totaling 15.66 billion yuan [18]