Macro market:
[central bank] on May 18, in order to maintain the reasonable and abundant liquidity of the banking system, the central bank launched a 7-day reverse repurchase operation of 10 billion yuan by means of interest rate bidding, with the bid winning interest rate of 2.10%. Today, the 10 billion yuan reverse repo is due, so the maturity is fully hedged on that day.
[finance] on May 18, treasury bond futures closed up slightly, with 10-year main contract up 0.11%, 5-year main contract up 0.08% and 2-year main contract up 0.04%. The yield of 10-year Treasury bonds with an active interest rate of 2200515% fell, while the yield of 10-year Treasury bonds with an active interest rate of 2200515% fell to 2203.5%.
[finance] on May 18, most money market interest rates rose slightly, and the funds in the inter-bank market were still loose. The one-day interbank borrowing between banks and depositors was reported at 1.3409%, up 0.56 basis points; The 7-day report was 1.6442%, up 6.03 basis points; The 14 day report was 1.7130%, up 10.01 basis points; The one-month report was 2.2722%, up 27.19 basis points. The one-day varieties of inter bank pledged repo were reported at 1.3267%, up 0.46 basis points; The 7-day report was 1.5550%, up 2.93 basis points; The 14 day report was 1.6395%, up 8.8 basis points; The one-month report was 1.65%, down 20 basis points.
[enterprise] on May 18, the yield of credit bonds of various maturities continued to decline, and the credit spread of medium and short-term bills of various maturities narrowed compared with the previous day. Today, 1325 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 113361 billion yuan. Among them, 912 credit bonds rose, 72 credit bonds were flat, and 316 credit bonds fell.
[residents] on May 17, the number of commercial housing transactions in 30 large and medium-sized cities and first tier cities was + 0.19% and the area of commercial housing transactions was + 0.18% compared with the previous day; The number of commercial housing transactions in second tier cities was + 0.30% compared with the previous day, and the transaction area of commercial housing was + 0.29% compared with the previous day; The number of commercial housing transactions in the third tier cities was + 0.07% and the transaction area of commercial housing was + 0.15% compared with the previous day.
[policies] on May 18, the Symposium on stabilizing growth and stabilizing market players to ensure employment stressed that the policies already issued should be put in place as soon as possible, and the policies determined by the central economic work conference and the government work report were basically implemented in the first half of the year; The new measures that can be seen as accurate can be used up and released in May, so as to ensure that the economy operates within a reasonable range in the first half of the year and the whole year, and strive to make the economy return to the normal track quickly.
Recent focus: the pre force of fiscal policy
