每日债市速递 | 新世界发展：总债务缩减17亿港元

Group 1: Open Market Operations - The central bank conducted a 7-day reverse repurchase operation of 116 billion yuan at a fixed rate of 1.40% on February 28, with a net injection of 116 billion yuan for the day [1] - The central bank's open market saw a net withdrawal of 611.4 billion yuan for the week [1] - A total of 1.525 trillion yuan in reverse repos will mature from March 2 to 6, with an additional 1 trillion yuan in 91-day reverse repos maturing on March 6 [1] Group 2: Funding Conditions - On the last trading day of February, major funding demand entities such as brokerages and funds were absent, leading to a stable interbank funding market with overnight repo rates falling to 1.31% [3] - The overnight financing guarantee rate in the U.S. was reported at 3.67% [3] Group 3: Interbank Certificates of Deposit - The latest transaction rate for one-year interbank certificates of deposit among major banks was at 1.58%, showing a slight decline from the previous day [6] Group 4: Bond Market Overview - Major interest rate bond yields in the interbank market declined, with long-term bonds performing better due to increased risk aversion following U.S. and Israeli attacks on Iran [8] Group 5: Economic Data - The National Bureau of Statistics reported that the GDP for the year reached 14,018.79 billion yuan, growing by 5.0% year-on-year, while the national income was 13,937.00 billion yuan, up by 5.1% [11] - The total population at the end of the year was 1,404.89 million, a decrease of 3.39 million from the previous year [11] - Domestic tourism reached 6.52 billion trips, an increase of 16.2% year-on-year [11] Group 6: Global Macro Trends - Stablecoin issuers are rapidly becoming the largest buyers of U.S. Treasury bills, with projections indicating that the market cap of stablecoins could reach $2 trillion by the end of 2028, potentially creating up to $1 trillion in new demand for short-term Treasury bills [14]