Group 1 - The Ministry of Finance of China issued 91-day bonds with a scale of 30 billion yuan and an issuance rate of 1.2069% [1] - The marginal rate for the 91-day bonds was 1.2392%, with an expected rate of 1.2200% and a bid-to-cover ratio of 3.44 times [1] - The Ministry also issued 182-day bonds with a scale of 60 billion yuan and an issuance rate of 1.2654% [1] Group 2 - The marginal rate for the 182-day bonds was 1.3223%, with an expected rate of 1.3200% and a bid-to-cover ratio of 2.29 times [1] - The marginal bid-to-cover ratio for the 182-day bonds was 1.67 times [1]

Core Insights - Dalian issued 10-year general local bonds with a scale of 5.91405 billion, an issuance rate of 1.7100%, and a marginal multiple of 1.16 times, with an expected multiple of 1.75 [1] - Dalian also issued 20-year ordinary special local bonds with a scale of 723 million, an issuance rate of 2.0400%, and a marginal multiple of 3.53 times, with an expected multiple of 2.02 [1] Summary by Category - **Bond Issuance** - Dalian's 10-year general local bonds totaled 5.91405 billion with a rate of 1.7100% and a marginal multiple of 1.16 times [1] - The expected multiple for the 10-year bonds was 1.75 [1] - **Special Bonds** - The 20-year ordinary special local bonds issued by Dalian amounted to 723 million with a rate of 2.0400% and a marginal multiple of 3.53 times [1] - The expected multiple for the 20-year bonds was 2.02 [1]

浙江省拟7月21日招标发行再融资专项债券和专项债券921.779亿元。其中包括土地储备专项债券198.83 亿元。 ...

Group 1 - The Ministry of Finance of China issued a 91-day bond with a scale of 30 billion yuan and an issuance rate of 1.2110%, with a marginal rate of 1.2473% and an expected rate of 1.2800%, achieving a bid-to-cover ratio of 3.28 times and a marginal ratio of 1.48 times [1] - A 20-year bond was issued with a scale of 40 billion yuan and an issuance rate of 1.9200%, slightly above the expected rate of 1.9100%, with a bid-to-cover ratio of 4.03 times and a marginal ratio of 2.50 times [1] - The Ministry also issued a 30-year bond with a scale of 83 billion yuan and an issuance rate of 1.9000%, exceeding the expected rate of 1.8800%, with a bid-to-cover ratio of 3.15 times and a marginal ratio of 6.60 times [1]

Core Viewpoint - Jilin Province issued a 7-year general local government bond with a scale of 3.7083 billion yuan and an issuance interest rate of 1.6500% [1] Group 1 - The bond issuance had a marginal multiple of 1.94 times, exceeding the expected multiple of 1.68 [1]

Group 1 - Inner Mongolia issued 15-year special local bonds with a scale of 155 billion yuan and an issuance interest rate of 1.97% [1] - The marginal multiple for the 15-year bonds was 3.17 times, with an expected multiple of 1.96 [1] - Inner Mongolia also issued 20-year special local bonds for rail transit with a scale of 10 billion yuan and an issuance interest rate of 2.03% [1] Group 2 - The marginal multiple for the 20-year rail transit bonds was 10.33 times, with an expected multiple of 2.03 [1]

Group 1 - Japan issued 4.3 trillion yen in 3-month treasury bills [1] - The price of the treasury bills was set at 99.8938 [1] - The yield on these treasury bills is 0.4264% [1]

Group 1 - The core viewpoint of the news is the enthusiastic market response to the issuance of technology innovation bonds, with significant participation from various institutions and a diverse range of issuers [1][2]. - As of June 7, 2023, a total of 147 institutions have issued technology innovation bonds exceeding 374.8 billion yuan, with 39 financial institutions contributing 223.9 billion yuan and 108 non-financial enterprises issuing 150.998 billion yuan [1]. - The China Interbank Market Dealers Association supported 73 non-financial enterprises in issuing 97.72 billion yuan, accounting for 65% of the total issuance by non-financial enterprises [1]. Group 2 - The issuance structure is diverse, with 95% of the supported private enterprises being represented by 17 companies, including notable firms like iFlytek and Heng'an International [1][2]. - The majority of the bonds have medium to long-term maturities, with 60% of the bonds having a maturity of over one year, and a total of 83.6 billion yuan in bonds with maturities exceeding 10 years [2]. - The initiative has attracted a wide range of investors, including banks, wealth management firms, funds, and brokerages, enhancing confidence in the issuance of medium to long-term technology innovation bonds [2]. Group 3 - The Association is promoting a risk-sharing mechanism to support technology enterprises, with tools like credit risk mitigation certificates being created by commercial banks [2]. - The supported enterprises span 21 provinces and regions, including Hong Kong, with the top five regions for issuance being Beijing, Shanghai, Shandong, Jiangsu, and Zhejiang [2]. - The first month saw private equity firms like Junlian Capital and Dongfang Fuhai registering 4.8 billion yuan, indicating an optimization in the structure of issuing entities [2][3].

Group 1 - The company plans to issue corporate debt financing tools not exceeding 4 billion yuan to meet operational funding needs and optimize debt structure [1] - The issuance will include medium-term notes up to 2.5 billion yuan and ultra-short-term financing bonds up to 1.5 billion yuan [1]

Group 1 - The Ministry of Finance of China issued 28-day bonds with a scale of 20 billion yuan and an issuance rate of 1.1351% [1] - The marginal rate for the 28-day bonds was 1.1873%, with an expected rate of 1.3000% and a bid-to-cover ratio of 3.89 times [1] - The Ministry also issued 63-day bonds with a scale of 20 billion yuan and an issuance rate of 1.2018% [1] Group 2 - The marginal rate for the 63-day bonds was 1.2541%, with an expected rate of 1.3300% and a bid-to-cover ratio of 3.68 times [1] - The marginal bid-to-cover ratio for the 63-day bonds was 2.24 times [1]