每日债市速递 | 香港将基准利率下调25个基点至4.50%

Group 1: Open Market Operations - The central bank announced a 7-day reverse repurchase operation on September 18, with a fixed rate and a total of 487 billion yuan, at an interest rate of 1.40%, with a net injection of 195 billion yuan for the day after accounting for maturing reverse repos [1][2]. Group 2: Funding Conditions - Despite the nearing end of tax payments, the interbank market remained tight, with the overnight repo weighted average rate rising to above 1.5%. The overnight funding quotes fluctuated, peaking at 1.6% before settling around 1.48% [3][4]. - The latest overnight financing rate in the U.S. was reported at 4.39% [3]. Group 3: Interbank Certificates of Deposit - The latest transaction rate for one-year interbank certificates of deposit among major banks was at 1.68%, showing a slight increase from the previous day [7][8]. Group 4: Bond Market Overview - Major interest rates on interbank bonds generally increased, indicating a rising yield environment [9]. - The closing prices for government bond futures showed a collective decline, with the 30-year main contract down by 0.17% and the 10-year main contract down by 0.05% [13]. Group 5: Key News - The Hong Kong Monetary Authority announced a 25 basis point reduction in the benchmark interest rate to 4.50% [14]. - The China Automobile Dealers Association projected that September's total passenger car sales would reach 2.2 million units, driven by seasonal demand and promotional activities [14]. Group 6: Bond Issuance Plans - The central bank plans to issue 60 billion yuan of 6-month central bank bills in Hong Kong on September 22 [19]. - Guizhou Province plans to issue 62.256 billion yuan of local bonds in the fourth quarter [19]. - Anhui Province plans to issue 10.254 billion yuan of local bonds in the fourth quarter [24].