深圳发行2年期棚改专项地方债，规模1.5000亿元，发行利率1.4500%，边际倍数5.80倍，倍数预期 1.46。 ...

Group 1 - The interbank major interest rate bond yields have risen sharply, with the 10-year government bond active yield increasing by 3.4 basis points and the 30-year government bond active yield rising by 5.15 basis points [1] - The current yields for various government bonds are as follows: 3Y at 1.4050, 5Y at 1.4200, 10Y at 1.4400, 30Y at 1.9275, indicating a general upward trend in yields across different maturities [2]

新华财经北京5月9日电（王菁）债市周五（5月9日）偏弱整理，经过前两日逐渐消化系列政策影响，期 限券市场走势逐渐回稳，银行间现券收益率上行0.5BP左右，国债期货主力多数小幅收跌；公开市场单 日净投放770亿元，资金利率持续走低。 机构认为，货币市场利率有望迎来新一轮补降，短端债券确定性强，收益率曲线或趋于陡峭化。 【行情跟踪】 国债期货收盘多数下跌，30年期主力合约涨0.02%报120.370，10年期主力合约跌0.01%报109.060，5年 期主力合约跌0.07%报106.095，2年期主力合约跌0.01%报102.346。 【海外债市】 北美市场方面，当地时间5月8日，美债收益率集体上涨，2年期美债收益率涨10.99BPs报3.880%，3年期 美债收益率涨13.08BPs报3.873%，5年期美债收益率涨13.79BPs报3.999%，10年期美债收益率涨 12.48BPs报4.392%，30年期美债收益率涨7.71BPs报4.850%。 亚洲市场方面，日债收益率普遍延续上行，10年期日债收益率尾盘上行3.8BPs至1.363%。 欧元区市场方面，当地时间5月8日，10年期法债收益率涨4.3BPs报 ...

Group 1 - The Ministry of Finance plans to issue the 2025 Central Financial Institution Capital Injection Special Treasury Bonds (Phase II) with a total competitive bidding face value of 145 billion [1] - This bond issue is a 7-year fixed-rate coupon bond [1] - The coupon rate for this bond will be determined through competitive bidding [1]

财政部拟第一次续发行2025年中央金融机构注资特别国债（一期） 招标面值总额850亿元 智通财经5月9日电，财政部拟第一次续发行2025年中央金融机构注资特别国债（一期），本次续发行国 债为5年期固定利率附息债；本次续发行国债竞争性招标面值总额850亿元，不进行甲类成员追加投标； 本次续发行国债票面利率与之前发行的同期国债相同，为1.45%。 ...

Core Insights - Guangdong has issued various special local bonds with different maturities and scales, indicating a proactive approach to financing and infrastructure development [1] Summary by Category Bond Issuance Details - Guangdong issued a 7-year special land reserve bond with a scale of 1.20371 billion, an issuance rate of 1.6300%, and a marginal multiple of 3.02, exceeding the expected multiple of 1.66 [1] - A 10-year special local bond was issued with a scale of 10.16869 billion, an issuance rate of 1.7800%, and a marginal multiple of 8.03, surpassing the expected multiple of 1.73 [1] - The 15-year special local bond had a scale of 4.81955 billion, an issuance rate of 2.0200%, and a marginal multiple of 10.89, higher than the expected multiple of 1.93 [1] - A 20-year special local bond was issued with a scale of 9.98953 billion, an issuance rate of 2.0700%, and a marginal multiple of 5.86, below the expected multiple of 2.02 [1] - The 30-year special local bond had a scale of 5.22395 billion, an issuance rate of 2.0700%, and a marginal multiple of 32.82, significantly exceeding the expected multiple of 1.93 [1]

Group 1 - The China Securities Convertible Bond Index opened down by 0.01% [1] - Yongji Convertible Bond fell by 20.00% [1] - Hao 24 Convertible Bond and Dongfeng Convertible Bond decreased by 1.90% and 0.89% respectively [1] Group 2 - Jiali Convertible Bond increased by 4.68% [1] - Mengsheng Convertible Bond rose by 1.54% [1]

Group 1 - The core viewpoint of the articles highlights a widespread decline in European bond yields, reflecting market concerns about the economic outlook and expectations for monetary policy changes [1][7] Group 2 - Economic uncertainty is a primary reason for the decline in bond yields, as investors express concerns about the sustainability of economic growth amid global uncertainties, including trade policy changes and geopolitical risks [3][9] - Expectations regarding changes in monetary policy by the European Central Bank (ECB) are influencing bond yields, with the market anticipating a potential easing of monetary policy to address slowing economic growth [4][8] - Increased demand for safe-haven assets, such as bonds, is evident as investors seek security amid global economic uncertainties, particularly during periods of stock market volatility [5][9] Group 3 - The decline in bond yields has led to fluctuations in market confidence, with ongoing uncertainty about the sustainability of economic growth despite ECB's emphasis on economic stability [6][7] - There may be a necessity for policy adjustments by the ECB to stabilize the market, which could involve altering monetary policy or directly intervening in the bond market [8] - The global economic landscape remains uncertain, necessitating the ECB's close monitoring of global economic dynamics to adapt policies accordingly [9]

Group 1 - Fujian issued a 15-year high-quality development special local bond with a scale of 7.64698 billion, an issuance interest rate of 2.0300%, and a marginal multiple of 16.69 times, exceeding the expected multiple of 1.91 [1] - Fujian also issued a 20-year high-quality development special local bond with a scale of 23.96726 billion, an issuance interest rate of 2.0700%, and a marginal multiple of 2.25 times, slightly below the expected multiple of 2.03 [1]

Core Viewpoint - Fujian Province has issued multiple special local bonds with varying maturities and interest rates, indicating a strong demand for financing infrastructure and development projects in the region [1] Group 1: Bond Issuance Details - Fujian issued a 15-year toll road special local bond with a scale of 34.0048 billion yuan and an issuance rate of 2.0300%, achieving a marginal multiple of 39.06 times against an expected multiple of 1.92 [1] - A 5-year high-quality development special local bond was issued with a scale of 1.2000 billion yuan and an issuance rate of 1.5800%, resulting in a marginal multiple of 1.33 times, slightly below the expected multiple of 1.60 [1] - A 7-year high-quality development special local bond was issued with a scale of 12.6000 billion yuan and an issuance rate of 1.6400%, achieving a marginal multiple of 1.11 times, lower than the expected multiple of 1.67 [1] - A 10-year high-quality development special local bond was issued with a scale of 33.6996 billion yuan and an issuance rate of 1.8000%, resulting in a marginal multiple of 3.92 times, exceeding the expected multiple of 1.73 [1]