每日债市速递 | 超五成债基三季度被净赎回

Group 1: Open Market Operations - The central bank conducted a 7-day reverse repurchase operation of 342.6 billion yuan at a fixed rate of 1.40% on October 30, with a net injection of 130.1 billion yuan for the day after accounting for 212.5 billion yuan in reverse repos maturing [1]. Group 2: Funding Conditions - The end of the tax period has led to continued net injections by the central bank, resulting in a further easing of the interbank funding market. The overnight repo rate for deposit-taking institutions fell over 9 basis points to around 1.31%, with ample supply in the market [3]. - The latest overnight financing rate in the U.S. stands at 4.31% [3]. Group 3: Interbank Certificates of Deposit - The latest transaction rate for one-year interbank certificates of deposit among major banks is at 1.64%, showing a slight decrease from the previous day [7]. Group 4: Bond Market Overview - Major interest rate bonds in the interbank market have seen yields decline, with the 30-year main contract rising by 0.19% and the 10-year main contract increasing by 0.05% [13]. Group 5: International Relations and Economic Cooperation - Chinese President Xi Jinping and U.S. President Donald Trump discussed economic and trade issues, emphasizing the importance of cooperation and the need to avoid a cycle of retaliation. Both sides aim to finalize agreements to enhance economic ties [14]. - The U.S. will cancel certain tariffs on Chinese goods, while China will adjust its countermeasures accordingly, indicating a potential thaw in trade relations [15]. Group 6: Financial Policy Developments - The Ministry of Finance and other departments issued a notice to improve duty-free shop policies to boost consumption, effective from November 1, 2025 [15]. - The National Financial Regulatory Administration announced the expansion of pilot programs for pension financial products nationwide, with increased fundraising limits for financial institutions [16].