智通财经7月15日电，财政部于2025年7月15日开展了国债做市支持操作。 | 操作 | 操作券种 | 期限 | 操作额 (亿 | 中标价格 | 收益率 | | --- | --- | --- | --- | --- | --- | | 方向 | | (年) | | (元) | (%) | | | | | 元) | | | | 随卖 | 2025年记账式附息 | 5 | 2.4 | 99.62 | 1.52 | | | (三期) 国债 | | | | | | | 2025年记账式附息 | 10 | 2.4 | 100.04 | 1.67 | | | (十一期) 国债 | | | | | ...

异常波动 | 基金转型 | 169103 | 东方红睿轩定开 | 转型选择期：2025年6月20日至2025年7月17日 | https://www.cninfo.com.cn/new/disclosure/detail?stockCode=169103&announcementId=122393 3021&orgId=9900022559&announcementTime=2025 -06-20 | | --- | --- | --- | --- | --- | | 可转债上市 | 118057 | 甬矽转债 | 上市时间：2025年7月16日 | http://www.cninfo.com.cn/new/disclosure/detail?stockCode=688362&announcementId=122415 | | | | | | 7925&orgId=9900047769&announcementTime=2025 -07-14 | | | 123114 | 三角转债 | 转股价格调整生效日期 ：2025年7月21日 | http://www.cninfo.com.cn/new/disclosu ...

智通财经7月15日电，印尼5年期国债收益率跌至2023年9月以来最低。 ...

#宏观 #报告 #图表 德银7月宏观经济观察图表集，涉及美股、欧股、欧美财政与债券市场。None (@None):None ...

智通财经APP获悉，周二，日本基准的 10 年期国债收益率攀升至 2008 年以来的最高水平，原因是随着 参议院选举临近，人们对财政支出的担忧加剧。LSEG数据显示，10 年期日本国债的收益率攀升至 1.599%，为 2008 年以来的最高水平。30 年期日本国债的收益率也升至创纪录的 3.21%，而 20 年期日 本国债的收益率则飙升至 1999 年以来的最高水平。 Credit Agricole CIB日本宏观策略师Ken Matsumoto表示："由于下周将举行参议院选举，市场预期届时 将会有财政扩张政策出台，因此日本的长期债券收益率和超长期债券收益率目前都在上升。" 在将于周日举行的参议院选举之前，众多日本政客和政党正在积极讨论降低消费税的问题。消息显示， 此次选举将带来更多的经济波动，尤其是与关税相关的波动。 Matsumoto解释道："这就是债券捍卫者们纷纷现身的原因。他们表示：我们需要更高的收益率才能投资 债券市场。所以日本国债市场出现了做空行为。" 除了即将举行的选举之外，还有一些潜在因素可能促使日本央行提前进行下一次加息。虽然东京的通胀 年率在 6 月份降至 3.1%，低于 5 月份的 3. ...

Report Industry Investment Rating There is no information provided regarding the report industry investment rating. Core Viewpoints - The growth rate of social financing may face pressure in the second half of the year. If there is no additional budget, government bonds will shift from year - on - year increase in the first half to year - on - year decrease in the second half, and non - government bond social financing has been weak due to high real interest rates [2][3][20]. - The low - base effect supports the continued significant rebound of M1 growth rate, and the rebound of social financing growth rate drives the rebound of M2 growth rate. Attention should be paid to the subsequent changes in fiscal deposits [3][4]. - The current stock market rise requires a low - interest - rate environment, and the impact on the bond market from capital flow is limited. The bond market has limited adjustment space, and it is a better allocation opportunity after adjustment. It is expected that bond yields will decline again, and a long - duration position and a dumbbell - shaped allocation are recommended [5][21]. Summary by Related Content Credit Situation - In June, new credit was 2.24 trillion yuan, a year - on - year increase of 110 billion yuan. Corporate short - term credit demand increased, while the improvement of household credit demand was still limited. Corporate medium - and long - term loans and short - term loans increased year - on - year, and bill financing decreased year - on - year. Household medium - and long - term and short - term loans also increased year - on - year, but high - frequency data showed weak real - estate sales [1][8]. Social Financing Situation - In June, new social financing was 4.1993 trillion yuan, a year - on - year increase of 0.9008 trillion yuan, and the year - on - year growth rate of social financing stock was 8.9%, 0.2 percentage points higher than the previous month. Government bonds were still the main support item. However, if there is no additional budget, subsequent bond supply will decrease year - on - year, and social financing growth rate may decline [2][13]. - In the first half of this year, the increase in social financing mainly came from government bonds. The annual budget increment of government bonds is 13.86 trillion yuan. After deducting the issued part in the first half, the net financing scale in the second half is expected to be about 6.1 trillion yuan, compared with about 8 trillion yuan in the same period last year [3][20]. M1 and M2 Situation - In June, the new - caliber M1 increased by 4.6% year - on - year, a rebound of 2.3 percentage points from May, mainly due to the low - base effect last year [3][15]. - In June, M2 increased by 8.3% year - on - year, a rebound of 0.4 percentage points from the previous month. The increase in social financing growth rate promoted the rebound of M2 growth rate. With the slowdown of government bond issuance in the second half, fiscal deposits may decrease year - on - year, increasing the capital supply in the market [4][18]. Stock and Bond Market Situation - The recent rise in the stock market is mainly driven by valuation recovery and requires a low - interest - rate environment. The impact of the stock market on the bond market's capital is limited. The bond market has limited adjustment space, and it is expected that bond yields will decline again. A long - duration position and a dumbbell - shaped allocation are recommended, with the 10 - year Treasury bond yield expected to fall to 1.4% - 1.5% [5][21].

大连发行10年期一般债地方债，规模59.1405亿元，发行利率1.7100%，边际倍数1.16倍，倍数预期 1.75； 大连发行20年期普通专项地方债，规模7.2300亿元，发行利率2.0400%，边际倍数3.53倍，倍数预期 2.02。 ...

公司于2025年7月14日收到上海证券交易所出具的《关于珠海华发实业股份有限公司向特定对象发行可转债的交易所审核意见》，具体 审核意见如下："珠海华发实业股份有限公司向特定对象发行可转债申请符合发行条件、上市条件和信息披露要求。本所将在收到你公 司申请文件后提交中国证监会注册。" 中国经济网北京7月15日讯华发股份（600325）(600325.SH)昨日晚间披露关于向特定对象发行可转换公司债券收到上海证券交易所审 核意见的公告。 本次向特定对象发行可转换公司债券的具体发行方式将由公司董事局及其授权人士在股东大会授权范围内与保荐机构(主承销商)根据 法律、法规的相关规定协商确定。本次可转债的发行对象为不超过35名(含35名)符合中国证监会及上交所规定条件的特定对象。 公司本次可转债的发行对象范围为符合中国证监会及上交所规定的证券投资基金管理公司、证券公司、保险机构投资者、信托公司、 财务公司、合格境外机构投资者以及其他符合法律法规规定的法人、自然人或其他合格机构投资者。 截至预案公告日，公司本次向特定对象发行可转换公司债券尚无确定的发行对象，因而无法确定发行对象与公司的关系。本次发行的 发行对象与公司之间的关 ...

30年期国债期货（TL）主力合约日内涨幅达0.50%，现报120.81元。 ...

金十数据7月15日讯，德商银行研究部率和信贷研究主管Christoph Rieger在报告中指出，主要政府债券 曲线继续陡峭化，日本国债对远端收益率造成了最新压力。他表示："什么都没发生但曲线却在继续陡 峭化，这令人担忧。"根据LSEG的数据，日本20年期国债收益率周二早些时候创下2.657%的数十年新 高，为1999年11月以来的最高水平，随后回落至2.617%。 德商银行：日本国债对远端收益率带来最新压力 ...