Macro market:
[central bank] on March 10, in order to maintain the reasonable and abundant liquidity of the banking system, the central bank launched a 10 billion yuan reverse repurchase operation by means of interest rate bidding, and the bid winning interest rate was 2.1%. On the same day, RMB 10 billion reverse repurchase expired, so the open market realized zero net investment and zero net return.
[finance] on March 10, treasury bond futures closed down slightly, with 10-year main contract down 0.08%, 5-year main contract down 0.04% and 2-year main contract down 0.01%. The yields of major inter-bank interest rate bonds generally rose. The yield of 10-year Guokai active bond 220205 rose 1.5bp to 3.123%, the yield of 10-year Treasury bond 210017 rose 0.81bp to 2.855%, and the yield of 5-year treasury bond 210011 rose 1.25bp to 2.5975%.
[finance] on March 10, most money market interest rates rose slightly, and the inter-bank liquidity balance was wide and. The one-day interbank borrowing between banks and depositors was reported at 2.0413%, up 0.57 basis points; The 7-day report was 2.0885%, up 0.79 basis points; The 14 day report was 2.1420%, up 8.79 basis points; The one-month report was 2.2071%, down 23.62 basis points. The one-day varieties of inter bank pledged repo were reported at 2.0289%, up 1.26 basis points; The 7-day report was 2.0752%, up 2.37 basis points; The 14 day report was 2.0581%, up 3.34 basis points; The one-month report was 2.2777%, down 2.15 basis points.
[enterprise] on March 10, the yield of credit bonds of various maturities continued to rise, reaching a new high since the end of last year, with a transaction of more than 120 billion yuan throughout the day. A total of 1351 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 121433 billion yuan. Among them, 355 credit bonds rose, 107 were flat and 837 fell.
[enterprise] on March 10, the China Academy of communications and communications announced that in 2021, the added value of high-tech manufacturing industry increased by 18.2% year-on-year, 8.6 percentage points higher than the added value of industries above Designated Size, and the contribution rate to the growth of industries above designated size was 28.6%. Since November 2020, it has maintained double-digit growth for 14 consecutive months..
[residents] on March 10, the number of commercial housing transactions in 30 large and medium-sized cities and first tier cities was + 14% and the area of commercial housing transactions was + 8% compared with the previous day; The number of commercial housing transactions in second tier cities was - 7% compared with the previous day, and the transaction area of commercial housing was - 4% compared with the previous day; The number of commercial housing transactions was - 14% lower than that of the previous three days.
Recent focus: Overseas tightening monetary policy more than expected constraints on China's monetary policy