Group 1 - The central bank has conducted a significant liquidity injection, leading to a recovery in the bond market, with the yield on the 30-year special government bond falling by 4 basis points to 1.9975%, dipping below 2% for the first time in several days [1] - The central bank executed a 288.4 billion yuan reverse repurchase operation, with a net injection of 21.9 billion yuan for the day, alongside a 600 billion yuan one-year MLF operation, resulting in a total net injection of 621.9 billion yuan [1] - The stock market remains strong, with A-shares trading volume surpassing 3 trillion yuan for the second time in history, indicating a notable "see-saw" effect between stocks and bonds [1] Group 2 - Ten science and technology innovation bond ETFs will be included in the pledge library starting August 27, with a total scale reaching 120.384 billion yuan, allowing for general pledge-style repurchase business [2] - The joint notice from three departments encourages the expansion of direct financing channels for forestry enterprises, promoting bond issuance for eligible companies while ensuring no new hidden local government debt is created [3][4] Group 3 - Shanxi Province has issued guidelines to optimize the management of special bonds, stating that financing platforms with unresolved hidden debts cannot serve as project units [5][6] - Multiple provinces have reported significant progress in resolving hidden debts through bond replacement and negotiations, with some regions achieving a reduction in hidden debt to below 100 billion yuan [6] Group 4 - The Henan Agricultural Investment Group plans to issue 300 million yuan in medium-term notes, with the entire proceeds aimed at repaying existing debts [7] - The Xinxiang Shentou Operation Management Company has received approval for a 300 million yuan asset-backed securities project from the Shanghai Stock Exchange [9] Group 5 - Zhengzhou Economic Development Investment plans to conduct a cash tender offer for "21 Zhengzhou Economic Development MTN001," with a total face value of 230 million yuan [10] - The Sichuan provincial government has initiated the establishment of several new state-owned enterprises to address structural issues and enhance innovation capabilities [14] Group 6 - The bond market sentiment is currently influenced by various factors, with analysts suggesting that bonds can still provide returns even during a slow bull market in stocks [17] - Short-term bond market conditions remain challenging, but interest rates are expected to stabilize, with recommendations for specific bond types to mitigate risks [17]