Group 1 - Recent domestic money market interest rates have shown a comprehensive upward trend, with short-term rates rising due to tax payments and government bond issuance, while medium to long-term rates are also increasing due to recovering financing demand and a stable stock market [1] - As of August 19, the Shanghai Interbank Offered Rate (Shibor) for various terms has increased, with overnight, 1-week, 2-week, 1-month, 3-month, 6-month, 9-month, and 1-year rates reported at 1.464%, 1.517%, 1.599%, 1.528%, 1.55%, 1.61%, 1.637%, and 1.647%, respectively, showing increases of 14.9, 8.4, 14.3, 0.1, 0.2, 0.1, 0.8, and 0.9 basis points compared to August 12 [1] - The People's Bank of China (PBOC) has a total of 711.8 billion yuan in reverse repos maturing this week, and has already injected 846.8 billion yuan into the market through reverse repos in the first two working days, indicating a likelihood of significant liquidity injection to stabilize short-term rates [1] Group 2 - Future expectations indicate a short-term weak and long-term strong pattern for domestic market interest rates, with the peak period for tax payments ending and the PBOC increasing reverse repo operations, leading to a potential decline in short-term rates [2] - Continuous improvement in financing data and favorable performance in the domestic capital market are expected to increase medium to long-term funding demand, which may strengthen long-term interest rates [2]