【笔记20260105— 股市开门披红绸，债市开门系绷带】

Market Overview - The stock market opened strong, returning to 4000 points, while the bond market showed signs of stress with rising yields [6][7] - The central bank conducted a 135 billion yuan reverse repurchase operation, with a net withdrawal of 4688 billion yuan due to 4823 billion yuan of reverse repos maturing [4][6] Interest Rates and Bond Yields - The 10-year government bond yield rose to 1.8615%, reflecting a significant upward trend [6][7] - The interbank funding rates remained stable, with DR001 around 1.26% and DR007 at approximately 1.43% [4][6] Redemption Regulations - New redemption regulations were officially released, easing previous restrictions for individuals to 7 days and institutions to 30 days, which is a notable change from the draft [6][7] Trading Volume and Market Sentiment - The trading volume for various repo codes showed significant activity, with RO01 at 65977.61 million yuan and R007 at 7306.10 million yuan, indicating a robust trading environment despite the bond market's challenges [5][6]