最萌利差
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【笔记20260123— 最萌利差】
债券笔记· 2026-01-23 09:44
Group 1 - The article emphasizes that both being trapped in investments and missing out on opportunities are risks that require attention and potential stop-loss actions [1] Group 2 - The central bank conducted a 125 billion yuan reverse repurchase operation, resulting in a net withdrawal of 111.7 billion yuan due to the maturity of 867 billion yuan in reverse repos and 1500 billion yuan in treasury cash deposits [3] - The money market is balanced, with the DR001 rate around 1.40% and DR007 at approximately 1.49% [3] Group 3 - The stock market experienced a slight increase, with the marginal MLF rate dropping to 1.5%, and bond market rates also slightly decreased [5] - The 10-year government bond yield opened at 1.83% but retreated to 1.8275% during the morning session [5] Group 4 - The article notes a unique situation in the bond market where the MLF rate is at 1.50%, with only a 10 basis point difference between the 1-year MLF and 7-day OMO rates, referred to as the "cutest interest rate spread" [6] - The stock market is characterized by active trading strategies, with participants engaging in arbitrage and tactical trading [6]