As stated in paragraph 6 in General Terms of Auction for Treasury bonds, the Government Debt Management offered the equivalent of 10% of the nominal value sold in the auction 4. July, at the price of accepted bids. SeriesRIKS 29 0917ISINIS0000037711Additional issuance (nominal)0Total outstanding (nominal)74,650,000,000 ...

INSIGHT: 🇯🇵 The yield on Japan's 30-year government bond has surged over 30 basis points in three days, surpassing 3%. This upswing may add to volatility in Treasury notes, potentially hurting risk assets, including BTC.Writes @godbole17https://t.co/xVQDzc85lV ...

Group 1 - Guizhou issued 10-year special local bonds with a scale of 12.2 billion yuan and an issuance rate of 1.72% [1] - The marginal multiple for the 10-year bonds was 1.91 times, with an expected multiple of 1.75 [1] - Guizhou also issued 30-year ordinary special local bonds with a scale of 15 billion yuan and an issuance rate of 2.04% [1] Group 2 - The marginal multiple for the 30-year bonds was 8.33 times, with an expected multiple of 2.00 [1]

Group 1 - The core viewpoint of the article highlights a significant increase in the euro-denominated corporate bond market in June, driven by strong demand from institutional investors, proactive financing strategies by issuers, and anticipation of potential trade policy changes due to the approaching deadline for U.S. tariffs [1] - Institutional investors continue to show robust demand for credit bond assets, providing ample funding support for the primary market [1] - Corporate issuers are completing financing before the quiet period for Q2 earnings reports to avoid regulatory restrictions on issuing new securities [1] - Issuers are adopting a "prepare for the worst" strategy by locking in financing ahead of potential trade policy changes, reflecting heightened awareness of geopolitical risks [1] Group 2 - The current eurozone corporate bond issuance window exhibits a "strong supply and demand" characteristic, with investors maintaining strong demand for relatively high-yielding credit bonds amid the European Central Bank's accommodative monetary policy [1] - Issuers are taking advantage of favorable market conditions for proactive liability management, meeting operational funding needs while preparing liquidity reserves for potential changes in the trade environment [1] - Some multinational companies have noticeably accelerated the pace of euro bond issuance, indicating market participants' heightened vigilance regarding geopolitical risks [1]

随着债券市场"科技板"的推出，叠加政策利好频现，当前科技创新债券（简称"科创债"）成为了机构眼 中的"香饽饽"。 科创债是创投市场的"新活水"，起源于2015年，经历了萌芽期和试点深化期，2025年政策升级，引入金 融机构和风险共担机制，吸引了大量资金。 公开数据显示，2021年至2024年，科创债的历年发行规模为166.6亿元、2685.1亿元、7700.0亿元和 12178.9亿元；在2022年推出科创票据后，科创债市场规模呈现出爆发式增长态势，科创债在公司债市 场中的占比亦持续攀升，由0.95%逐年增长至15.5%。 此外，自5月份科创债相关政策落地以来，截至7月3日，全市场已发行419只科创债，规模超过6200亿 元。 记者观察发现，目前科创债的发行呈现出了显著的区位集中特征。北京市以19%左右的占比位居全国前 列，凸显出了其作为全国科技创新中心的资源集聚优势；江苏省、广东省、浙江省、山东省、上海市等 东部及中部经济大省（市）紧随其后。相比之下，西部地区的整体发行规模相对有限，科技创新资源与 金融资源配置的区域协同性差异较大。 在业内专家看来，前述梯度分布格局，既体现了债券市场对成熟科创产业集群的偏好 ...

Investors lapped up 30-year Japanese government bonds in an auction on Thursday that indicates policymakers are having some success in quelling debt-market volatility https://t.co/UeWodmU33g ...

考虑到地缘政治风险加剧，许多人在月中质疑债券供应量是否会接近预期。但投资者保持坚挺，继续购 买债券。美国高等级债券与其他市场一样上涨并获得了动力，创下年内第二佳月度回报，并将年初至今 的涨幅推高至4%以上。 6月份，银团利用较低的融资成本，共发行了1095亿美元的新债券，略高于1050亿美元的预期。6月下半 月表现亮眼，发行量强劲，回报稳健。 一项针对债券承销商的非正式调查显示，周二没有潜在借款人考虑发行新的美国投资级债券，美国一级 市场本周很可能已经结束。 ...

第 406 期 2025-07-01 焦点关注 债市上半年收官：全市场发债超27万亿元，同比增长24％ 截至6月30日，全市场发行各类债券27.29万亿元（四舍五入，下同），同比增长近24%，其中利率债发 行16.93万亿元，信用债发行10.35万亿元；具体来看，上半年国债发行78,880.80亿元，地方债发行 54,901.55亿元，央行票据发行550亿元，政金债发行34,968.20亿元，其中国债、地方债和政金债同比发 行分别增长35.58%、57.18%和19.23%。 上半年ABS承销排行榜发布 在ABS承销方面，2025年上半年各家机构表现如何？7月1日，Wind发布2025年上半年中国内地市场 ABS承销排行榜。 上半年，ABS市场新增发行项目1090只，发行规模达9749亿元，同比增加27%。 信贷ABS新增发行102 只项目，发行总额为959亿元，同比减少23%。从基础资产方面来看，不良贷款发行量最大，发行80 单，共计362亿元；个人汽车贷款次之，发行10单，共计343亿元。 宏观动态 财政部拟续发行2400亿元记账式附息国债 财政部发布通知，拟第二次续发行2025年记账式附息（七期）国债和 ...

截至6月30日收盘，债市受PMI数据、跨季资金以及股市影响整体小幅走弱，延续窄幅震荡格局。整体来看，2025年上半年国债收益率先 上后下，信用利差多数收窄，资金面均衡偏松，国债期货季末收跌。 机构认为，7月跨季后资金面相较6月边际转松，资金价格环比普遍下行，2021-2024年期间，DR007平均下行幅度约10BPs。从品种表现 来看，受7月理财等非银机构配债需求放量推动，债市收益率整体下行，10年期国债收益率平均下行4.4BPs，信用债表现优于利率债。但 今年债市错位交易特征显著，6月债市表现较好，部分机构或有止盈动机，可能透支7月下行空间。 一级市场 截至6月30日，全市场发行各类债券27.29万亿元（四舍五入，下同），同比增长近24%，其中利率债发行16.93万亿元，信用债发行10.35 万亿元；具体来看（下图），上半年国债发行78,880.80亿元，地方债发行54,901.55亿元，央行票据发行550亿元，政金债发行34,968.20 亿元，其中国债、地方债和政金债同比发行分别增长35.58%、57.18%和19.23%。 从国债一级市场发行来看，2025年上半年共发行98只（含续发）国债，同比减少8 ...

Group 1 - The ten-year government bond is influenced primarily by policy interest rates and economic cycles, benefiting from the current downward trend in interest rates [1] - The current economic environment is characterized by a structural transformation, with the economy gradually moving from a peak in 2021 to a bottoming phase, indicating weak demand [1] - Monetary policy is expected to remain accommodative, with potential for further easing signals, which is favorable for bond assets, particularly in the third quarter of this year [1] Group 2 - The Ten-Year Government Bond ETF (511260) is the only product tracking the Shanghai Composite Ten-Year Government Bond Index, consisting of bonds with maturities between seven to ten years [2] - The credit rating of government bonds is high, resulting in relatively low default risk, and the ETF's holdings are transparent, minimizing style drift risk [2] - The Ten-Year Government Bond ETF (511260) supports T+0 trading, enhancing liquidity for investors [2]