新华财经北京12月24日电（王菁）债市周三（12月24日）被股市小幅施压，银行间现券震荡盘整，短债 略优于长债，国债期货主力也呈现窄幅整理态势；资金面呈结构性分化，跨年需求升温非银融入成本走 高。 亚洲市场方面，日债收益率普遍回升，10年期日债收益率上行0.8BP至2.047%。 欧元区市场方面，当地时间12月23日，10年期法债收益率跌5.1BPs报3.559%，10年期德债收益率跌 3.6BPs报2.860%，10年期意债收益率跌4.9BPs报3.547%，10年期西债收益率跌4.6BPs报3.284%。其他市 场方面，10年期英债收益率跌2.7BPs报4.507%。 【一级市场】 财政部91天、182天、7年期国债加权中标收益率分别为1.2352%、1.3121%、1.66%，边际中标收益率分 别为1.2957%、1.3527%、1.69%，全场倍数分别为2.36、2.64、3.22，边际倍数分别为1.77、1.33、8.8。 机构认为，午间一度浮现降准传言，带动收益率一波快速回落，但影响短暂，随后重归震荡走势。跨年 资金需求有所升温，非银融入价走高相对明显，随着需求集中释放以及年末分层压力，跨年资金利 ...

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 ...

With the Fed lowering their Fed Funds Rate again last week , treasury rates -- especially those on the long end of the yield curve -- have been dominating headlines. The curve is still looking wonky, with the 3-month UST still yieldingNewsletter Author | Investment Advisor | Top 5% of Experts on TipRanks | Long Signal, Short Noise | I am a macro-oriented and data-driven investor who obsesses over connecting dots that others don't see (or want to see), expressing my views through concentrated, asymmetrical, ...

Group 1 - The article discusses the concept of "time stop-loss," which suggests that if a trading logic is not proven correct within a specified timeframe, one should exit the position, regardless of whether the logic is ultimately proven wrong [1] Group 2 - The bond market is experiencing a cautious sentiment, with the 10-year government bond yield rising to 1.859% due to weak economic data and concerns over bond fund redemptions [5] - The central bank conducted a 130.9 billion yuan reverse repurchase operation, with a net injection of 8.6 billion yuan, indicating a balanced and slightly loose liquidity environment [3] - The interbank funding rates remain stable, with DR001 at approximately 1.27% and DR007 at around 1.44% [3]