产品期限以中长期为主。中长期（发行期限在1年以上）以上科技创新债券只数占比60%，其中，10年 期以上共计7只，规模83.6亿元。股权投资机构债券期限全部分布在3-20年，江苏国信发行20年超长期 科技创新债券，助力培育耐心资本。 ● 本报记者 彭扬 中国银行间市场交易商协会6月9日消息，自5月7日人民银行和证监会联合发布关于支持发行科技创新债 券有关事宜的公告后，市场各方反应热烈。截至6月7日，科技创新债券推出首月，全市场147家机构累 计发行科技创新债券超3748亿元，包括39家金融机构发行2239亿元，108家非金融企业发行1509.98亿 元，其中，交易商协会支持73家非金融企业发行977.2亿元。 发行主体结构多元。协会支持包括科大讯飞、恒安国际、盛虹科技等在内的17家民营企业发行，占科技 创新债券民营企业家数的95%。此外，还支持招商局资本、中创新航等4家公众企业，中石化股份等15 家央企及子公司，鲁信创投、金合盛等37家地方国企发行。 具体来看，科技创新债券实现扩容增面。协会支持发行科技创新债券977.2亿元，占非金融企业总发行 规模的65%。支持73家企业发行，家数占比近70%，涵盖56家科技 ...

Group 1 - The China Securities Convertible Bond Index opened up by 0.02% [1] - Huafeng Convertible Bond rose over 4%, while Saili Convertible Bond increased by over 2% [1] - Other notable increases include Keshun Convertible Bond, Jincheng Convertible Bond, Ruida Convertible Bond, and Jiayi Convertible Bond, each rising over 1% [1] Group 2 - Yingji Convertible Bond fell by over 2%, with Zai22 Convertible Bond and Beilu Convertible Bond also declining by over 1% [1]

其 他 报 告 2025年07月03日 晨会纪要 | 国内市场 | | 涨跌幅（%） | | | --- | --- | --- | --- | | 指数 | 收盘 | 1日 | 上周 | | 上证综合指数 | 3455 | -0.09 | 1.91 | | 深证成份指数 | 10413 | -0.61 | 3.73 | | 沪深300指数 | 3944 | 0.02 | 1.95 | | 创业板指数 | 2124 | -1.13 | 5.69 | | 上证国债指数 | 226 | 0.06 | 0.02 | | 上证基金指数 | 6936 | -0.04 | 0.37 | | | | 资料来源:同花顺iFinD | | | 海外市场 | | 涨跌幅（%） | | | --- | --- | --- | --- | | 指数 | 收盘 | 1日 | 上周 | | 中国香港恒生指数 | 24221 | 0.62 | 3.20 | | 中国香港国企指数 | 8725 | 0.54 | 2.76 | | 中国台湾加权指数 | 22578 | 0.11 | 2.42 | | 道琼斯指数 | 44495 | 0.91 ...

日本6月27日当周净买进国外债券 1828亿日元，前值 6155亿日元。 ...

Core Viewpoint - The U.S. 10-year Treasury yield increased by 3.52 basis points, reaching 4.2769%, with fluctuations observed throughout the day [1] Group 1: Treasury Yields - The 10-year Treasury yield rose to a daily high of 4.3063% before gradually retreating [1] - The 2-year Treasury yield increased by 1.23 basis points, settling at 3.7848% [1] - Following the release of the ADP employment data, the 2-year yield sharply dropped from a daily high of 3.7992% to a low of 3.7437% [1]

周三（7月2日）欧市尾盘，英国10年期国债收益率上涨15.8个基点——创4月7日（当天涨16.7个基点） 以来最大单日涨幅，报4.612%，北京时间20:00之前持续、平滑地震荡上行，之后涨幅迅速扩大，21:30 达到4.633%，逼近6月9日顶部4.673%。 30年期英债收益率涨19.1个基点，报5.420%，21:57涨至5.453%刷新日高；50年期英债收益率涨18.1个基 点，报4.767%，21:53涨至4.817%刷新日高。 2/10年期英债收益率利差涨10.417个基点，报+72.904个基点，全天持续上涨。 两年期英债收益率涨5.4个基点，报3.881%，20:00之前也窄幅震荡于3.840%一线，19:48开始迅速扩大涨 幅，20:02刷新日高至3.912%。 ...

八年前的今天，债券通"北向通"正式上线。经过八年的快速成长，债券通已经成为连接境内外金融市场 的重要桥梁，也是外资持续流入中国金融市场的重要渠道。 债券通有限公司发布的运行报告显示，今年5月份，债券通"北向通"累计成交9156亿元，日均成交482亿 元。与开通首月的日均成交15亿元相比，增长超31倍。截至今年5月末，通过债券通"北向通"入市投资 者达835家。 景顺董事总经理、亚太区固定收益主管黄嘉诚在接受《证券日报》记者采访时认为，这些数据表明，债 券通推动了外资持有中国债券的规模快速增长，促进了中国债券市场的国际化进程。从债券市场的深度 来看，债券通也推动了中国债券市场的多层次发展，促进了市场的创新和发展。 "北向通"日均成交增长超31倍 回望来路，2017年7月3日，债券通"北向通"正式启动，为全球投资者参与中国债券市场提供了更加便利 的通道。 彭博大中华区总裁汪大海对《证券日报》记者表示，未来随着债券通"南向通"合格境内投资者范围的扩 大，有望进一步助力投资机构优化资产配置，为香港债券市场引入更多增量资金，提升市场流动性，深 化境内外债券市场的互联互通。 2023年5月15日，内地与香港利率互换市场互 ...

Core Points - The U.S. Treasury auctioned four-month Treasury bills with a winning yield of 4.185%, slightly down from 4.195% reported on June 25 [1] - The bid-to-cover ratio was 3.04, indicating a decrease from the previous auction's ratio of 3.13 [1]

SeriesRIKS 29 0917ISINIS0000037711Maturity Date09/17/2029Auction Date07/04/2025Settlement Date07/09/202510% addition07/08/2025 Buyback issueRIKS 26 0216Buyback price (clean)98.1500 On the Auction Date, between 10:30 a.m. and 11:00 a.m., the Government Debt Management will auction Treasury bonds in the Series, with the ISIN number and with the Maturity Date according to the table above. Article 6 of the General Terms of Auction for Treasury bonds applies for the right to purchase an additional 10%. The Treas ...

1. Report Industry Investment Rating No relevant content provided. 2. Core Viewpoints - The market for ultra - long credit bonds has slowed down, but the index of ultra - long credit bonds has shown stable performance. The trading volume of ultra - long industrial bonds over 10 years has increased, while the subscription sentiment for new ultra - long industrial bonds has significantly cooled. The spread between active ultra - long credit bonds and Treasury bonds of similar maturities continues to narrow. Accounts with stable liability ends need to reasonably control the position of ultra - long credit bonds [2][4][5] 3. Summary by Directory 3.1 Stock Market Characteristics - The market for ultra - long credit bonds has slowed down. Factors such as the slight tightening of cross - quarter funds, the tilt of the stock - bond balance, and the net value fluctuations of credit bond ETFs have disturbed the sentiment of going long on ultra - long credit bonds. The yield distribution of existing ultra - long credit bonds this week is generally the same as last week, and the number of existing ultra - long credit bonds with a yield below 2.2% remains at 650 [2][13] 3.2 Primary Issuance Situation - The supply of new ultra - long industrial bonds remains high. The issuance scale of new ultra - long credit bonds this week totals 29.5 billion, basically the same as last week, and ultra - long industrial bonds are still the main new addition. However, the subscription sentiment for new ultra - long industrial bonds has significantly cooled this week, which is related to the average issuance interest rate of new ultra - long industrial bonds dropping to a new low and the increased volatility of the capital market near the end of the quarter [3][22] 3.3 Secondary Trading Performance - The index of ultra - long credit bonds has shown stable performance. In the latest week, the equity market has strengthened. Due to the stock - bond seesaw effect, the indexes of mainstream bond varieties have weakened, but the index of credit bonds over 7 years has been relatively stable, with the weekly increase of the AA+ credit bond index over 10 years being 0.18%. - The trading volume of ultra - long industrial bonds over 10 years has increased. Although the preference for ultra - long credit bonds has been disturbed by the strengthening of equity assets this week, the weekly trading volume of industrial bonds from 7 - 10 years has dropped to 448, while the trading volume of industrial bonds over 10 years has increased to 176, reaching a new high in weekly trading volume since 2024. In terms of trading returns, the average weekly trading return of industrial bonds over 7 years has dropped to a new low, and the spread between 7 - 10 - year varieties and 20 - 30 - year Treasury bonds has narrowed to 25BP. - The trading of ultra - long credit bonds is still mainly at a low valuation, and the low - valuation trading margin of industrial bonds from 20 - 30 years is at the forefront. However, the proportion of TKN trades in credit bonds over 7 years has decreased significantly, indicating that investors still have concerns about the sustainability of the market for this variety. - In terms of investor structure, insurance companies and funds have continued to buy ultra - long credit bonds this week, but the intensity of funds chasing long - term credit has slowed down, and the scale of increasing the position of 5 - 10 - year credit bonds this week has dropped to 3.2 billion [4][32][42]