每日债市速递 | 央行公开市场单日净回笼3690亿

Market Overview - The central bank conducted a 7-day reverse repurchase operation of 40.5 billion yuan at a fixed rate of 1.40% on March 4, with a net withdrawal of 369 billion yuan for the day due to 409.5 billion yuan in reverse repos maturing [3][4] - The interbank market remains loose, with the weighted average rate of DR001 slightly rising to 1.26%, while DR007 decreased by over 3 basis points [5][7] - The latest transaction for one-year interbank certificates of deposit is around 1.557%, down less than 1 basis point from the previous day [8] Bond Market - The closing prices for government bond futures showed a slight decline for the 30-year contract by 0.03%, while the 10-year, 5-year, and 2-year contracts increased by 0.05%, 0.08%, and 0.05% respectively [14] Key Events - The Fourth Session of the 14th National People's Congress will open on March 5 and close on March 12, with a total of 11 agenda items including the review of the government work report and the examination of the 15th Five-Year Plan draft [15] - The State Council Information Office will hold a press conference on March 5 to interpret the government work report [15] - China's official manufacturing PMI for February is reported at 49.0%, a decrease of 0.3 percentage points, while the non-manufacturing PMI is at 49.5%, an increase of 0.1 percentage points [16] Global Macro - South Korea's financial regulatory agency plans to implement a market stabilization plan of 100 trillion won if market volatility escalates [18] - The Iranian Supreme Leader election may be postponed, with high-level security measures in place for the upcoming meeting [18] Bond Events - The China Development Bank will auction up to 12 billion yuan of 3-year green financial bonds on March 5 [20] - The Shenzhen real estate market shows signs of recovery, with the average transaction price of second-hand homes stabilizing for three consecutive months [20]