阿表示，财政部在一家银行开设了专门账户，用于筹集和管理欧洲债券资金，这些资金将通过贷 款、存款和其他金融工具流向经济优先领域，之后再返还到国家基金。下一期欧洲债券的发行将取决于 上述试点项目的成功实施，募集资金未来将用于有助于经济增长和加强国家金融体系的经济项目。 （原标题：吉计划于明年2月发行第二期欧洲债券） 据吉尔吉斯斯坦塔扎别克新闻网12月2日报道，吉财政部国家债务司司长阿布德巴波夫当天出席金 融市场论坛时表示，吉财政部签署了一份授权书，拟发行17亿美元的欧洲债券，目前尚有10亿美元额度 待发行。 首期发行债券7亿美元，因市场需求火热，簿记期间峰值订单规模突破21亿美元。下一期债券 预计将于2026年2月面向企业发行。 ...

Core Viewpoint - The bond market is experiencing fluctuations influenced by the stock market, with short-term bonds performing slightly better than long-term bonds, and the overall liquidity remaining manageable under the central bank's guidance [1] Market Performance - The closing prices for government bond futures showed a slight increase, with the 30-year main contract up by 0.02% to 112.84, and the 10-year main contract also up by 0.02% to 108.23 [2] - The yield on the 30-year government bond decreased by 0.2 basis points to 2.2210%, while the yield on the 10-year government bond increased by 0.4 basis points to 1.9020% [2] International Bond Market - In North America, U.S. Treasury yields varied, with the 2-year yield rising by 3.18 basis points to 3.532% and the 30-year yield falling by 1.12 basis points to 4.824% [3] - In Asia, Japanese bond yields generally increased, with the 10-year yield rising by 0.8 basis points to 2.047% [4] Primary Market - The Ministry of Finance reported weighted average winning yields for 91-day, 182-day, and 7-year government bonds at 1.2352%, 1.3121%, and 1.66% respectively, with bid-to-cover ratios of 2.36, 2.64, and 3.22 [5] Liquidity Conditions - The central bank conducted a 260 billion yuan reverse repurchase operation at a rate of 1.40%, resulting in a net withdrawal of 208 billion yuan for the day [6] - The Shibor rates showed mixed performance, with the overnight rate falling to 1.267%, the lowest since August 2023, while the 1-month rate rose to 1.579%, the highest since July 2025 [6] Institutional Insights - CITIC Securities noted an improvement in bond market sentiment, with the 10-year government bond yield stabilizing below 1.85%, and expectations for a "cross-year market" revival [8] - China International Capital Corporation highlighted that credit bond demand may remain stable despite potential pressures on wealth management products as the year-end approaches [8]

Core Viewpoint - The bond market showed slight recovery on December 23, with short-term bonds performing better, as the main government bond futures all closed higher and interbank bond yields fell by 1-2 basis points [1] Market Performance - Government bond futures closed higher across the board, with the 30-year main contract rising by 0.89% to 112.83, the 10-year main contract up by 0.26% to 108.22, the 5-year main contract increasing by 0.17% to 106.025, and the 2-year main contract rising by 0.07% to 102.526 [2] - Interbank major interest rate bond yields generally declined, with the 30-year government bond yield down by 1.3 basis points to 2.2245%, the 10-year policy bank bond yield down by 1.15 basis points to 1.895%, and the 7-year government bond yield down by 2.2 basis points to 1.7% [2] International Market Trends - In North America, U.S. Treasury yields collectively rose on December 22, with the 2-year yield increasing by 2.32 basis points to 3.509%, and the 10-year yield rising by 2.35 basis points to 4.161% [3] - In Asia, Japanese bond yields fell across the board, with the 10-year yield down by 4.3 basis points to 2.04% [4] - In the Eurozone, the 10-year French bond yield remained flat at 3.610%, while the 10-year German bond yield rose by 0.2 basis points to 2.896% [4] Funding Conditions - The central bank conducted a 7-day reverse repurchase operation of 593 billion yuan at a fixed rate of 1.40%, with a net withdrawal of 760 billion yuan for the day [6] - The Shibor short-term rates mostly declined, with the overnight rate unchanged at 1.272%, and the 7-day rate down by 1.8 basis points to 1.399%, marking a new low since January 2023 [6] Institutional Insights - Huaxi Securities noted that recent funding disturbances are mainly due to tax periods, with manageable pressure expected as December is not a traditional tax month [7] - CITIC Securities expressed concerns over excessive worries regarding banks' capacity to hold long-term bonds, suggesting that the compression of long-term yield spreads may be challenging [8]

Global Bond Market Trends - Global bond yields are expected to continue rising due to various factors including rate hikes in France and fiscal situations in Europe, which are adding upward pressure on global bond rates [2] - The Federal Reserve's potential rate cuts may not lead to a decrease in yields, indicating that the U.S. could be influenced by the global trend of rising rates [3][8] U.S. Economic Context - The U.S. fiscal policy is characterized by significant spending, which is likely to persist as the mid-term elections approach, potentially impacting bond yields [3][4] - The Supreme Court ruling may introduce uncertainties, but the administration remains optimistic about implementing its fiscal agenda [5] Commodity Market Insights - Prices for metals such as copper, gold, and silver are also on the rise, reflecting a broader trend of increasing commodity prices globally [6] U.S. Equity Market Dynamics - The U.S. equity market has seen increased participation from small-cap stocks, which is a positive sign; however, rising yields could pose challenges for these stocks [12][13] - Concerns over capital expenditure plans have emerged, with companies like Oracle experiencing negative impacts, indicating a cautious sentiment among investors [11]

转自：成都日报锦观 在此背景下，成都市积极响应国家政策，联合证监局、人行四川省分行等部门，共同举办服务活动，并 印发实施了《成都市加快推动科技创新债券发行工作方案》。通过建立常态化沟通协调机制，为科创企 业、金融机构等市场主体开辟"绿色通道"，协同解决发行过程中的政策衔接问题，显著提升了发行效 率。 本次活动旨在深化金融供给侧结构性改革，引导金融资源更好地服务于实体经济，特别是科技创新领 域。来自四川证监局以及上海、深圳、北京三大证券交易所的业务专家，就科技创新债券及REITs的最 新政策、监管要求、产品设计、发行要点及存量资产盘活路径等核心议题进行解读。 我市今年累计发行科技创新债券649.15亿元 本报讯 （成都日报锦观新闻记者 刘泰山） 12月19日，成都市科技创新债券赋能实体经济暨REITs助力 盘活资产专项培训活动在位于成都的上交所西部基地举办。记者从活动中获悉，今年以来，成都市已成 功推动发行科技创新债券（科创票据）66只，累计规模达649.15亿元，显著低于市场平均融资成本，有 效降低了企业的融资压力。 今年5月，中国人民银行与中国证监会联合发布了《关于支持发行科技创新债券有关事宜的公告》，为 ...

新华财经北京12月19日电（王菁）债市周五（12月19日）延续偏强，银行间现券收益率下行1BP左右， 超长端收益率一度降超3BPs，国债期货主力合约尾盘集体拉升、全线收涨；公开市场单日净投放357亿 元，短端资金利率转为上行。 机构认为，当前债市核心矛盾已从基本面转向政策预期与市场情绪，弱数据未能提振债市，或说明投资 者对供给压力的敏感度高于对经济预期的考量，情绪面成为短期主导变量，后市仍可能继续区间震荡。 【行情跟踪】 国债期货收盘全线上涨，30年期主力合约涨0.22%报112.66，10年期主力合约涨0.10%报108.15，5年期 主力合约涨0.09%报105.97，2年期主力合约涨0.04%报102.49。 银行间主要利率债收益率纷纷下行。截至发稿，10年期国开债"25国开15"收益率下行1.55BP报 1.8920%，10年期国债"25附息国债16"收益率下行0.8BP报1.8340%，30年期国债"25超长特别国债06"收 益率下行2.35BPs报2.2290%。 公开市场方面，央行公告称，12月19日以固定利率、数量招标方式开展了562亿元7天期逆回购操作，操 作利率1.40%，投标量562亿元 ...

Core Points - AUGA group, AB is undergoing restructuring and has announced a bondholders meeting scheduled for January 15, 2026 [1] - The meeting will be held remotely via Zoom, starting at 10:00 AM Vilnius time, with registration from 9:30 AM to 9:55 AM [2] - The agenda includes organizational questions, postponement of bond redemption, consent for the sale of pledged property, and a Q&A session [3][4] Meeting Details - The bondholders meeting is set for January 15, 2026, at 10:00 AM [2] - Participants can join the meeting remotely via Zoom, with a meeting ID and passcode provided [2] - The record date for participants is January 8, 2026 [2] Agenda Items - The meeting will address organizational questions [3] - Discussion on postponing the bond redemption date and consent for selling pledged assets, specifically 100% of the shares of UAB "Baltic Champs" [3][4] - A Q&A session will be included in the meeting agenda [3]

Core Viewpoint - The 2025 Bond Market High-Quality Development Conference was held to showcase exemplary cases of high-quality development in the Henan bond market, aiming to enhance the capital market's functionality and increase direct financing [1][6]. Group 1: Exemplary Cases - A total of 85 exemplary cases were selected, categorized into three types: comprehensive (7 cases), institutional (51 cases), and project (27 cases) [3]. - The cases highlight breakthroughs in financing scale, innovative business models, and outstanding performance in issuance, contributing to the high-quality development of the bond market [6]. Group 2: Categories of Exemplary Cases - **Comprehensive Cases**: Include significant contributions from organizations like Henan Zhongyu Credit Enhancement Co., which issued the first state-owned enterprise bond post-credit risk event, providing guarantee services for over 100 bonds in the province [8]. - **Institutional Cases**: Notable institutions such as CITIC Bank Zhengzhou Branch have underwritten over 200 billion yuan in credit bonds, maintaining a leading position in the Henan market [8]. - **Project Cases**: Examples include the issuance of technology innovation bonds by companies like Luoyang Guohong Investment Holding Group, which supports key industries in the region [9][10]. Group 3: Focus Areas of Development - The conference emphasized support for rural revitalization, small and micro-enterprise development, and green/ESG bonds, showcasing various successful bond issuance cases in these areas [4][14]. - The bond market is seen as a vital tool for injecting funds and vitality into the Henan economy, with a focus on innovative financing solutions [6][12].

Foreign investors bought the most Japanese bonds in eight months last week as rising yields attracted overseas demand https://t.co/LPQTSVFlHw ...

Core Viewpoint - The Federal Reserve's recent decision to lower the Fed Funds Rate has significantly impacted treasury rates, particularly on the long end of the yield curve, which has been a focal point in financial news [1]. Group 1: Treasury Rates and Yield Curve - The yield curve is exhibiting unusual characteristics, with the 3-month U.S. Treasury (UST) still yielding at notable levels [1]. Group 2: Investment Strategy - The investment approach emphasizes the importance of connecting macroeconomic trends and data to identify investment opportunities that may not be apparent to the broader market [1]. - The strategy involves maintaining concentrated, asymmetrical, and high-conviction positions while managing risk through disciplined position sizing [1].