每日债市速递 | 银行间市场资金面收敛势头加剧

Monetary Policy Operations - The central bank conducted a 7-day reverse repurchase operation on January 13, with a fixed rate and a total amount of 358.6 billion yuan, at an interest rate of 1.40%. The total bid amount matched the amount awarded, resulting in a net injection of 342.4 billion yuan for the day after accounting for 16.2 billion yuan in reverse repos maturing [1]. Market Liquidity - The interbank market showed a tightening trend, with the weighted average interest rate of D R001 rising over 6 basis points to 1.39%. Overnight quotes in the anonymous click (X-repo) system increased to 1.52%, with limited supply. Non-bank institutions borrowing overnight against credit bonds saw rates approaching 1.6%, indicating rising costs [3]. Interbank Certificates of Deposit - The latest transaction rate for one-year interbank certificates of deposit among major banks remained stable at 1.64% compared to the previous day [7]. Bond Market Overview - The yields on major interbank bonds varied, with long-term bonds showing strength. For instance, the yield on 10-year government bonds was reported at 2.292%, while the yield on 30-year government bonds increased by 0.28% [11]. Key Industry Meetings - The Ministry of Industry and Information Technology held its 18th symposium with representatives from key industries such as steel, non-ferrous metals, and automotive. The meeting emphasized the importance of self-discipline and the establishment of a healthy ecosystem to promote industry development and resist "involution" [15]. Global Economic Insights - Recent statements from U.S. Federal Reserve officials indicated a favorable economic outlook, with no immediate pressure for interest rate adjustments. The labor market is expected to stabilize and strengthen, with inflation projected to peak in mid-2026 [17]. Bond Issuance and Events - The Agricultural Development Bank plans to issue up to 27 billion yuan in financial bonds on January 14. Additionally, the yield on 10-year Japanese government bonds rose to 2.135%, the highest level since February 1999 [20].