每日债市速递 | 央行公开市场单日净回笼2498亿

Open Market Operations - The central bank announced a 7-day reverse repurchase operation of 92.8 billion yuan at a fixed rate of 1.40% on November 6, with a total bid amount of 92.8 billion yuan and a successful bid amount of 92.8 billion yuan. On the same day, 342.6 billion yuan of reverse repos matured, resulting in a net withdrawal of 249.8 billion yuan [1] Funding Conditions - The interbank funding conditions remained loose, with overnight repurchase rates for deposit-taking institutions hovering around 1.31%. The overnight quotes in the anonymous X-repo system also remained around 1.3%, indicating ample supply. Non-bank institutions' pledging of certificates of deposit and credit bonds for overnight funding maintained quotes around 1.4%. Traders noted that there were few disruptive factors at the beginning of the month, and liquidity remained stable and loose, with no concerns for the future market outlook following the central bank's actions [3] Interbank Certificates of Deposit - The latest transaction rate for one-year interbank certificates of deposit among major national and joint-stock banks was around 1.63%, showing a slight decline from the previous day [8] Government Bond Futures - The closing prices for government bond futures showed a decline, with the 30-year main contract down by 0.28%, the 10-year main contract down by 0.09%, the 5-year main contract down by 0.03%, and the 2-year main contract up by 0.01% [11] Real Estate Sector Financing - In October, the total bond financing in the real estate sector reached 51.24 billion yuan, representing a year-on-year increase of 76.9%. Among this, credit bond financing accounted for 32.7 billion yuan, up 50.7% year-on-year, making up 63.8% of the total. The average bond financing interest rate in October was 2.56%, down by 0.42 percentage points year-on-year and 0.13 percentage points month-on-month [13] Global Economic Indicators - South Korea's central bank reported a record high current account surplus of 13.47 billion USD in September, up from 9.15 billion USD the previous month. This marked the largest current account surplus recorded for September and the second-largest monthly surplus overall [15] - The global manufacturing purchasing managers' index for October was reported at 49.7%, remaining stable compared to the previous month and indicating a slow recovery in the global economy [15] Green Finance - Five banks have joined the "trillion club" for green credit, with the total scale of green bonds nearing 2 trillion yuan [16] Debt Restructuring - Country Garden achieved a significant breakthrough in its debt restructuring, with plans to reduce overseas debt by approximately 84 billion yuan. Additionally, Sunac completed a second restructuring of both domestic and overseas debts, reducing debt by nearly 60 billion yuan [16] Bond Market Trends - The global bond issuance boom has led to a record sales figure of 5.94 trillion USD this year [17]