Market Overview - The bond market experienced a decline in yields after an initial rise, with 10-year and 30-year government bond yields both decreasing by nearly 1 basis point [1] - Government bond futures closed higher, with the 30-year main contract rising by 0.32%, the 10-year main contract by 0.15%, the 5-year by 0.12%, and the 2-year by 0.05% [1] Yield Changes - As of 16:30, the yield on the 10-year government bond (active bond 250011) fell by 0.45 basis points to 1.754%, while the 10-year policy bank bond (active bond 250215) decreased by 0.8 basis points to 1.931% [1] - The 30-year government bond (active bond 2500006) saw a yield drop of 2.5 basis points to 2.24% [1] Auction Results - In the primary market, the weighted average interest rates for various bonds were reported, with the 1-year government bond (250211X11) at 1.4748% and a bid-to-cover ratio of 2.86 [3] - The 3-year government bond (250214X31) had a weighted average interest rate of 1.7263% with a bid-to-cover ratio of 4.54 [3] Credit Bond Market Performance - The top five non-financial credit bonds by increase included H0宝龙04 and various 万科 bonds, with the highest increase being 3.72% for 22万科02 [4] - Conversely, the top five non-financial credit bonds by decrease included H0中骏02 and 25鄂交K1, with the largest drop being 4.83% for 25鄂交K1 [4] Monetary Policy Actions - The central bank conducted a reverse repurchase operation of 337.3 billion yuan at a fixed rate of 1.40%, resulting in a net injection of 148.3 billion yuan for the day [5] - Overnight SHIBOR rose to 1.4420%, while the 7-day SHIBOR increased to 1.5420% [5] Interbank Repo Rates - Interbank repo rates saw an overall increase, with FR001 rising by 15 basis points to 1.54% and FR007 increasing by 17 basis points to 1.65% [5][6]