Macro market:
[central bank] on February 15, the central bank maintained the reasonable and abundant liquidity of the banking system, carried out 300 billion yuan medium-term lending facility (MLF) operation and 10 billion yuan open market reverse repurchase operation, and 20 billion yuan of seven-day reverse repurchase expired on that day, realizing a net investment of 290 billion yuan.
[finance] on February 15, treasury bond futures weakened at the end of the trading, and most of them closed down slightly. The 10-year main contract fell by 0.02%, the 5-year main contract fell by 0.01%, and the 2-year main contract rose by 0.01%. The yield of inter-bank main interest rate bonds generally declined slightly. As of 16:30, the yield of 10-year CDB active bond 210215 decreased by 0.76bp, and the yield of 10-year Treasury bond 210017 decreased by 0.5bp.
[finance] on February 15, money market interest rates rose and fell, and MLF parity continued to be excessive, so there was no worry about the total liquidity. The one-day interbank borrowing between banks and depositors was reported at 1.8203%, down 5.6 basis points; The 7-day report was 2.0251%, up 0.62 basis points; The 14 day report was 2.0457%, up 4.71 basis points; The one-month report was 2.20%, down 9.09 basis points. The one-day varieties of inter bank pledged repo were reported at 1.8037%, down 6.04 basis points; The 7-day report was 1.9721%, down 1.61 basis points; The 14 day report was 2.0175%, up 6.06 basis points; The one-month report was 2.20%, up 0.88 basis points.
[enterprise] on February 15, a total of 1163 inter-bank and exchange credit bonds (corporate bonds, corporate bonds, medium-term notes, short-term financing and directional instruments) were traded, with a total transaction amount of 93.535 billion yuan. Among them, 531 credit bonds rose, 116 credit bonds were flat, and 489 credit bonds fell.
[residents] on February 15, the number of commercial housing transactions in 30 large and medium-sized cities and first tier cities was + 54% and the area of commercial housing transactions was + 56% compared with the previous day; The number of commercial housing transactions in second tier cities was + 147% compared with the previous day, and the transaction area of commercial housing was + 151% compared with the previous day; The number of commercial housing transactions in third tier cities was - 39% and the transaction area of commercial housing was - 46% compared with the previous day.
Recent focus: the sustainability of loose monetary policy in the first quarter.
