Macro market:
[central bank] on January 4, the central bank launched a 7-day reverse repurchase operation of RMB 10 billion in the open market, with a bid winning interest rate of 2.20%. As 270 billion yuan of reverse repo expired on that day, 260 billion yuan of net return was realized.
[finance] on January 4, treasury bond futures surged in the afternoon and closed mixed. The 10-year main contract fell 0.01%, once fell 0.23%, the 5-year main contract was flat, once fell 0.14%, and the 2-year main contract was close to flat, once fell 0.06%. Most of the yields of major inter-bank interest rate bonds rose, and government financial bonds performed better than government bonds. The yield of 10-year CDB active bond 210205 rose 0.5bp to 3.145%, and the yield of 10-year Treasury bond 200016 rose 1bp to 2.84%.
[finance] on January 4, money market interest rates fell across the board, and inter-bank funds improved as a whole. The one-day interbank borrowing between banks and depositors was reported at 1.9379%, down 20.83 basis points; The 7-day report was 2.0981%, down 25.2 basis points; The 14 day report was 2.2441%, down 120.59 basis points; The one month report was 2.3744%, and there was no transaction on the previous trading day. The one-day varieties of inter bank pledged repo were reported at 1.8733%, down 15.91 basis points; The 7-day report was 2.0168%, down 27.48 basis points; The 14 day report was 1.9868%, down 76.35 basis points; The one-month report was 2.1619%.
[enterprise] on January 4, the credit bond market ushered in a good start in the new year. The yield of credit bonds of all maturities fell across the board, with a large decline in one-year maturities, with a turnover of more than 75 billion yuan throughout the day. A total of 884 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 75.495 billion yuan. Among them, 484 credit bonds rose, 85 were flat and 295 fell.
[residents] on January 4, the number of commercial housing transactions in 30 large and medium-sized cities and first tier cities was - 11% and the area of commercial housing transactions was - 6% compared with the previous day; The number of commercial housing transactions in second tier cities was + 1% compared with the previous day, and the transaction area of commercial housing was - 7% compared with the previous day; The number of commercial housing transactions in the third tier cities was - 0.34% and the transaction area of commercial housing was - 0.64% compared with the previous day. Recent focus: the sustainability of loose monetary policy in the first quarter of next year.
