In the week from April 18 to April 22, the average daily index of China's financial conditions of the first Institute of Finance and economics was -1.25, down 0.09 from the previous week and 0.06 during the year. Since the people's Bank of China announced the RRR reduction on April 15, the financial condition index fell from -1.11 to -1.41 within one week, a decrease of 27.71%.
Last week, the short end and medium and long end yields of treasury bonds showed obvious bifurcation trend, and the steep yield curve of treasury bonds was mainly driven by the downward trend of short end interest rate and the upward trend of upper end interest rate. Among the credit bonds, the yield of medium and long-term credit bonds generally rose, and the previous downward trend for five consecutive weeks was blocked. As the rise of the yield of credit bonds is less than that of medium and long-term treasury bonds, the overall interest rate difference between credit bonds and treasury bonds is downward.
The performance of the secondary A-share market is pessimistic, and the main stock indexes are generally downward. The daily average change of the Shanghai composite index is - 0.78%, the small and medium-sized board index is - 0.73%, and the gem index is - 1.36%. In addition, the overall trading volume and valuation of A-Shares also fell simultaneously, with the average daily trading volume falling to 798922 billion yuan, and the P / E ratio adjusted by the weighted total market value of each board fell to 20.68, down about 6.55% from the previous week.
