Macro market:
[central bank] on February 21, the central bank maintained the reasonable and abundant liquidity of the banking system, carried out RMB 10 billion reverse repurchase, and the bid winning interest rate was 2.1%. On the same day, 10 billion yuan of reverse repurchase expired, realizing zero delivery and zero return.
[central bank] on February 21, the central bank authorized the national interbank lending bank of China to announce the LPR in February: the quotation of one-year LPR was 3.7% and that of five-year LPR was 4.6%, both unchanged from last month.
[finance] on February 21, the main contracts of various varieties of treasury bond futures fell across the board. The ten-year main contract fell 0.46%; The five-year main contract fell 0.3%; The main force in the two-year period fell 0.08%. The yield of major inter-bank interest rate bonds rose rapidly, the yield of 10-year Guokai active bond 210215 rose by 2.8bp, and the yield of 10-year Treasury bond 210017 rose by 3.5bp.
[finance] on February 21, most money market interest rates rose, and the inter-bank capital market converged. The one-day interbank borrowing between banks and depositors was reported at 2.2086%, up 7.97 basis points; 1557.87 basis points for the period; The 14 day report was 2.3124%, down 0.33 basis points; The one-month report was 2.3910%, down 6.97 basis points. The one-day varieties of inter bank pledged repo were reported at 2.1780%, up 7.71 basis points; The 7-day report was 2.1154%, up 2.44 basis points; The 14 day report was 2.2777%, up 5.15 basis points; The one-month report was 2.2399%, up 3.99 basis points.
[enterprise] on February 21, the yield of credit bonds of all maturities rose across the board, with an increase of more than 3 basis points for the five-year period, and the transaction volume exceeded 100 billion throughout the day. A total of 1245 inter-bank and exchange credit bonds (corporate bonds, corporate bonds, medium notes, short-term financing and directional instruments) were traded, with a total turnover of 104.956 billion yuan. Among them, 589 credit bonds rose, 107 were flat and 485 fell.
[residents] on February 21, the number of commercial housing transactions in 30 large and medium-sized cities and first tier cities was - 30% higher than the previous day, and the transaction area of commercial housing was - 30% higher than the previous day; The number of commercial housing transactions in second tier cities was + 2% compared with the previous day, and the transaction area of commercial housing was - 6% compared with the previous day; The number of commercial housing transactions in third tier cities was - 31% compared with the previous day, and the transaction area of commercial housing was - 40% compared with the previous day.
[residents] on February 21, it was announced that the price of new commercial housing in 28 of China's 70 large and medium-sized cities rose month on month in January, compared with 15 in December 2021; On a month on month basis, Yinchuan rose 1.5%, led by Beijing, Shanghai, Guangzhou and Shenzhen, up 1.0%, 0.6%, 0.5% and 0.5% respectively.
[residents] since 2022, more than 40 non restricted cities across the country have issued various real estate easing policies. Recent focus: the sustainability of loose monetary policy in the first quarter.
