（文章来源：每日经济新闻） 每经AI快讯，11月21日，银行间主要利率债午间表现分化，中长券走弱，短券略暖。30年期国债"25超 长特别国债06"收益率上行0.45bp报2.1560%，10年期国债"25附息国债16"收益率上行0.1bp报1.8095%， 10年期国开债"25国开15"收益率下行0.1bp报1.87%，1年期国债"25附息国债19"收益率下行0.25bp报 1.40%。 ...

Core Viewpoint - The interbank major bond yields have generally declined, indicating a potential shift in the interest rate environment and market sentiment towards government bonds [1] Group 1: Bond Yield Changes - The yield on the 10-year policy bank bond "25国开15" decreased by 0.8 basis points to 1.85% [1] - The yield on the 10-year government bond "25附息国债16" fell by 0.2 basis points to 1.7880% [1] - The yield on the 30-year government bond "25超长特别国债06" decreased by 0.6 basis points to 2.13% [1]

（文章来源：每日经济新闻） 每经AI快讯，11月4日，银行间主要利率债收益率午间普遍上行，10年期国开债"25国开15"收益率上行 0.5bp报1.8650%，10年期国债"25附息国债16"收益率上行0.2bp报1.7920%，30年期国债"25超长特别国债 06"收益率上行0.4bp报2.1440%。 ...

Core Viewpoint - The bond market is experiencing a weak consolidation, with most government bond futures closing lower and interbank bond yields generally rising within 0.5 basis points, indicating a cautious market sentiment [1][2]. Market Performance - Government bond futures closed mostly lower, with the 30-year main contract down 0.11% at 116.51, while the 10-year main contract slightly increased by 0.01% to 108.68 [2]. - The yields on major interbank bonds rose slightly, with the 10-year policy bank bond yield increasing by 0.25 basis points to 1.866% [2]. Primary Market - Agricultural Development Bank's 182-day financial bond had a winning bid rate of 1.5074%, with a total bid-to-cover ratio of 3.6 [3]. - The 3-year fixed-rate bond from the same bank had a winning bid rate of 1.6385%, with a total bid-to-cover ratio of 2.95 [3]. Overseas Bond Market - In North America, U.S. Treasury yields collectively fell, with the 2-year yield down 3.46 basis points to 3.574% [4]. - In Asia, Japanese bond yields mostly rose, with the 10-year yield increasing by 2 basis points to 1.665% [5]. Liquidity Conditions - The central bank conducted a 7-day reverse repurchase operation of 783 billion yuan at a fixed rate of 1.40%, resulting in a net withdrawal of 259 billion yuan for the day [6]. - The Shibor short-term rates collectively declined, with the overnight rate down 0.5 basis points to 1.316% [6]. Institutional Perspectives - Huatai Fixed Income suggests that the "asset shortage" logic may weaken next year, with fundamental factors regaining importance, indicating a market characterized by "low rates + high volatility" [7]. - CITIC Securities anticipates limited upward risk for bond yields, emphasizing the necessity of creating a suitable interest rate environment to support fiscal supply [8].

Core Viewpoint - The interbank major interest rate bond yields have mostly increased, indicating a potential shift in the bond market dynamics [1] Group 1: Bond Yield Changes - The yield on the 10-year policy bank bond "25国开15" increased by 0.4 basis points to 1.91% [1] - The yield on the 10-year government bond "25附息国债16" rose by 0.7 basis points to 1.84% [1] - The yield on the 30-year government bond "25超长特别国债06" increased by 1.25 basis points to 2.2050% [1]