每经AI快讯，10月14日，银行间主要利率债收益率快速上行，10年期国开债"25国开15"收益率上行 1.5bp报1.9580%，10年期国债"25附息国债11"收益率上行1.4bp报1.77580%，30年期国债"25超长特别国 债02"收益率上行1.6bp报2.13%。 ...

Core Viewpoint - The bond market continues to experience a downturn, with government bond futures showing a significant decline and a tightening liquidity environment affecting market sentiment [1][2][5]. Market Performance - Government bond futures closed lower across the board, with the 30-year main contract down 0.86% to 114.76, marking the lowest close since March 19 [2]. - The yield on the 10-year government bond increased by 2.75 basis points to 1.822%, while the yield on the 30-year bond rose by 2.5 basis points to 2.096% [2]. - The China Convertible Bond Index fell by 0.63% to 474.4 points, with a trading volume of 724.47 billion [2]. Overseas Market Trends - In North America, U.S. Treasury yields rose collectively, with the 2-year yield increasing by 7.41 basis points to 3.560% [3]. - Asian markets saw most bond yields rise, with the 5-year and 10-year yields increasing by 1.5 basis points and 0.4 basis points, respectively [3]. - In the Eurozone, most bond yields also increased, with the UK 10-year yield rising by 1.7 basis points to 4.621% [3]. Primary Market - The weighted average yield for the 91-day Treasury bond was 1.2745%, with a bid-to-cover ratio of 3.04 [4]. - The 5-year fixed-rate bond had a weighted average yield of 1.5973% and a bid-to-cover ratio of 3.24 [4]. - The 50-year special treasury bond had a yield of 2.2227% with a bid-to-cover ratio of 4.18 [4]. Liquidity Conditions - The central bank conducted a 7-day reverse repurchase operation with a total of 3,040 billion at an interest rate of 1.40%, resulting in a net injection of 749 billion for the day [5]. - Short-term Shibor rates mostly increased, with the overnight rate rising by 0.6 basis points to 1.425% [5]. Economic Indicators - August CPI decreased by 0.4% year-on-year, while PPI fell by 2.9%, indicating a narrowing decline compared to the previous month [7]. - The core CPI has shown an expanding growth rate for four consecutive months, reflecting the effectiveness of policies aimed at boosting domestic demand [7]. Institutional Insights - Long-term liquidity is expected to remain stable, with the central bank likely to continue providing support for government bond issuance [8]. - The new regulations on public fund sales fees are anticipated to enhance the stability of public bond funds, potentially leading to increased inflows into bond ETFs [8].