Macro market:
[central bank] from December 6 to December 10, a total of 230 billion yuan of reverse repo expired in the central bank's open market. At the same time, the central bank conducted a total of 50 billion yuan of reverse repo, so it realized a net return of 180 billion yuan in the week. This week, the central bank's open market will have 50 billion yuan of reverse repo due, of which 10 billion yuan will expire from Monday to Friday. In addition, 950 billion yuan of MLF will expire on Wednesday (December 15).
[finance] from December 6 to December 10, 304.9 billion new interest rate bonds were issued in the primary market that week (including 238.7 billion treasury bonds, 36.6 billion government financial bonds and 29.6 billion local bonds), and a net supply of interest rate bonds was 116.5 billion. The yield of inter-bank treasury bonds in the secondary market fell in most of the different maturities, with an average increase of 0.22 BP for each maturity. Among them, the yield of 0.5-year bonds rose by 6.95 BP, the yield of 1-year bonds rose by 2.17 BP and the yield of 10-year bonds fell by 2.75 BP. The yield of CDB bonds fell in most of the different maturities, and the yield of all maturities was flat Both fell 0.27bp. Among them, 1-year varieties decreased by 2.22bp, 3-year varieties decreased by 2.61bp and 10-year varieties decreased by 4.2bp. Meanwhile, the 10-year main contract of treasury bond futures rose 0.27%, the 5-year main contract rose 0.24% and the 2-year main contract rose 0.10%.
[finance] from December 6 to December 10, the capital level remained generally stable. Dr007 operated in the range of 2.09-2.21%, R001 operated in the range of 1.85-2.22%, and the capital interest rate center was below the policy interest rate. Specifically, the R001 weighted average interest rate was 1.8487%, down 9.81 basis points from last week; R007 weighted average interest rate was 2.278%, up 12.24 basis points from last week; The weighted average interest rate of R014 was 2.3468%, up 6.65 basis points from last week. Shibor was 1.807% overnight, down 10.6 basis points from last week; Shibor 7 days was 2.184%, up 10.6 basis points from last week; Shibor was 2.132% in 14 days, down 1.3 basis points from last week.
[enterprise] from December 6 to December 10, in the primary market, a total of 280.291 billion yuan of credit bonds were issued in the week, with a rise of 14.05% in the week; The total repayment was 222.426 billion yuan, and the net financing was 57.865 billion yuan, a decrease of 29.27% on a weekly basis. A total of 62 urban investment bonds were issued, with an issuance amount of 46.959 billion yuan. From the perspective of the rating structure of the issuer, AAA rated entities accounted for 66%, and the proportion decreased; AA + subjects accounted for 20%, and the proportion increased; The proportion of subjects with AA level and below accounted for 14%, and the proportion increased. In the secondary market, the overall yield of industrial bonds decreased slightly; The yield of urban investment bonds rose slightly in the five-year period, and the rest fell slightly. A total of 583.412 billion credit bonds were traded, including 34.030 billion corporate bonds, 14.897 billion corporate bonds, 234.987 billion medium-term notes, 234.399 billion short-term financing and 65.5% PPN 9.9 billion.
[residents] from December 6 to December 10, the number of commercial housing transactions in 30 cities, large and medium-sized cities and first tier cities + 70%, and the transaction area of commercial housing + 55%; The number of commercial housing transactions in second tier cities is - 12%, and the transaction area of commercial housing is - 9%; The number of commercial housing transactions in the third tier cities is 91%, and the transaction area of commercial housing is 80%. During the week, 12.947 million square meters of land was supplied, with a year-on-year growth rate of - 83.2%; The average supply price was 1613 yuan / m2, with a year-on-year growth rate of - 30.3%. The land sold was 16.106 million square meters, with a year-on-year growth rate of - 70.2%.
