International macro news
London spot gold opened at US $197307/oz, the highest was US $199839/oz, the lowest was US $192590/oz, and closed at US $193088/oz, with a weekly decline of 2.20%;
The closing price of the index was $1235200101, the lowest increase of 100.56% in the opening week;
There are more than 507.07 million confirmed cases of covid-19 pneumonia worldwide, with a cumulative death of more than 6.22 million, and the variant of Omicron virus is rampant;
Beige book on the economic situation of the Federal Reserve: the US economy expanded moderately on average;
Fed officials continue to make hawkish remarks on raising interest rates;
The 10-year tips yield of the United States hit a positive value for the first time in two years;
German central bank governor: the European Central Bank may raise interest rates at the beginning of the third quarter;
New Zealand Federal Reserve: policy tends to curb inflation expectations;
Yellen: the EU's energy ban on Russia may do more harm than good;
Iran's foreign ministry: the United States has adopted a "delaying policy" in Iran's nuclear negotiations.
China's economic policy trends
This week, the central bank conducted a total of 50 billion yuan of reverse repurchase in the open market. This week, 60 billion yuan of reverse repurchase expired, realizing a net return of 10 billion yuan.
On April 18, China's national economy continued to recover its development trend in the first quarter of 2022, and the economic operation was generally stable. According to the preliminary accounting of the National Bureau of statistics, China's GDP in the first quarter was 270178 billion yuan, an increase of 4.8% year-on-year and 1.3% month on month at constant prices.
On April 18, the 34th meeting of the Standing Committee of the 13th National People's Congress held its first plenary meeting. The meeting heard the report on the deliberation results of the draft futures and derivatives law made by Li Fei, chairman of the constitutional and Legal Committee of the National People's Congress.
On April 19, president Xi Jinping presided over the 25th meeting of the Central Committee for comprehensively deepening reform, stressing the need to fully implement the strategy of strengthening the country through the Internet, widely apply digital technology to government management services, promote the digital and intelligent operation of the government, and provide strong support for the modernization of the national governance system and governance capacity.
On April 20, the April LPR quotation was released: the LPR for one-year period was 3.70%, the previous time was 3.70%, and that for varieties over five years was 4.60%, the previous time was 4.60%.
On April 22, when attending the 2022 annual meeting of Boao Forum for Asia, Yi Gang, governor of the central bank, said that we should implement a prudent monetary policy and respond to the impact of the external environment.
On April 22, Yi Gang, governor of the central bank, attended the 45th meeting of the international monetary and financial committee by video. Yi Gang said that the Central Bank of China has always maintained the growth rate of money supply and social financing scale, basically matched the economic growth, and maintained the market interest rate in a reasonable range.
Next week, the tax payment is not due, the disturbance factors are limited, and the long and short sentiment in the bond market is intertwined. It is expected that the bond market will remain volatile.
