每日债市速递 | 特朗普称对伊朗战事“已基本结束”

Group 1: Open Market Operations - The central bank announced a fixed-rate reverse repurchase operation of 48.5 billion yuan for a 7-day term on March 9, with an interest rate of 1.40%. The total bid and awarded amount was 48.5 billion yuan. On the same day, 135 billion yuan in reverse repos matured, resulting in a net withdrawal of 86.5 billion yuan [3]. Group 2: Funding Conditions - The interbank market maintained a warm funding condition, with the weighted average interest rate of DR001 slightly rising to around 1.32%. The overnight quotes on the anonymous click system (X-repo) remained at 1.3%, indicating sufficient supply. In the overseas market, the overnight financing guarantee rate in the U.S. was 3.66% [5]. Group 3: Interbank Certificates of Deposit - The latest transaction for one-year interbank certificates of deposit among national and major joint-stock banks was around 1.56%, showing a slight increase compared to the previous day [7]. Group 4: Bond Yield Trends - The yields on major interbank bonds showed a downward trend, with the 30-year main contract dropping by 1.11%, marking the largest decline in nearly seven months. The 10-year, 5-year, and 2-year main contracts fell by 0.21%, 0.14%, and 0.04%, respectively [12]. Group 5: Economic Indicators - The National Bureau of Statistics reported that in February, the Consumer Price Index (CPI) rose by 1% month-on-month, the highest in nearly two years, and by 1.3% year-on-year, also the highest in three years. The core CPI, excluding food and energy, increased by 1.8% year-on-year. The Producer Price Index (PPI) rose by 0.4% month-on-month, marking five consecutive months of increase, while the year-on-year decline was 0.9%, with the rate of decline narrowing for three consecutive months [13]. Group 6: Legislative Developments - The work report submitted for review at the Fourth Session of the 14th National People's Congress highlighted new legislative focuses for 2026, including the formulation of a state-owned assets law and amendments to bankruptcy and tax collection laws. Additionally, laws related to financial stability and anti-corruption will be developed [13]. Group 7: Global Macro Developments - U.S. President Trump indicated that the war with Iran may soon conclude, stating that it has progressed faster than expected. The G7 finance ministers held an emergency meeting to discuss the potential coordinated release of emergency oil reserves in response to rising oil prices due to conflicts in the Gulf region [16].