Macro market:
[central bank] on January 20, the central bank maintained the reasonable and abundant liquidity of the banking system, and carried out a 7-day reverse repurchase operation of 100 billion yuan that day, with a bid winning interest rate of 2.1%. RMB 10 billion reverse repurchase expired, with a net investment of RMB 90 billion on the same day.
[central bank] the two varieties of LPR were lowered simultaneously. In January, the one-year LPR reported 3.7%, down 10 basis points; Varieties with a maturity of more than 5 years reported 4.6%, down 5 basis points.
[finance] on January 20, the main contracts of various varieties of treasury bond futures fluctuated narrowly. As of the afternoon closing, the ten-year main contract fell 0.06%; The five-year main contract rose 0.02%; The main force in the two-year period rose by 0.01%. Most of the yields of major inter-bank interest rate bonds fell, and medium and short-term bonds performed slightly better. The yield of 10-year Guokai active bond 210215 decreased by 0.5bp, the yield of 10-year Treasury bond 210017 decreased by 0.25bp, the yield of 5-year Guokai active bond 210208 decreased by 1.5bp, and the yield of 5-year treasury bond 210011 decreased by 1bp.
[finance] on January 20, most money market interest rates fell slightly, and the supply and demand of funds in the inter-bank market was generally balanced. The one-day interbank borrowing between banks and depositors was reported at 2.0470%, down 0.1 basis points; The 7-day report was 2.1378%, unchanged from the previous trading day; The 14 day report was 2.4450%, up 21.13 basis points; The one-month report was 2.5313%, down 11.9 basis points. The one-day varieties of inter bank pledged repo were reported at 2.0446%, up 0.46 basis points; The 7-day report was 2.1104%, down 0.31 basis points; The 14 day report was 2.3425%, up 8.84 basis points; The one-month report was 2.30%, down 13.46 basis points.
[enterprise] on January 20, 1497 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 154.329 billion yuan. Among them, 958 credit bonds rose, 111 credit bonds were flat, and 360 credit bonds fell.
[residents] on January 20, the number of commercial housing transactions in 30 large and medium-sized cities and first tier cities was + 37% and the area of commercial housing transactions was + 34% compared with the previous day; The number of commercial housing transactions in second tier cities was + 53% compared with the previous day, and the transaction area of commercial housing was + 47% compared with the previous day; The number of commercial housing transactions in the third tier cities was + 34% compared with the previous day, and the transaction area of commercial housing was + 43% compared with the previous day.
[residents] on January 20, the State Council issued the “14th five year plan” for tourism development. The plan proposes to promote inbound tourism step by step and orderly. Timely study and judge the situation of covid-19 pneumonia prevention and control outside China and the development and changes of the international environment, scientifically adjust the management measures for relevant personnel to come to China, and actively build a healthy, safe and orderly order of personnel exchanges between China and foreign countries on the premise of ensuring the safety of epidemic prevention. Timely launch the promotion action of inbound tourism, issue support policies for inbound tourism development, cultivate multilingual tour guides, tell Chinese stories well, enrich and enhance the national tourism image, size up the situation, and take effective measures to promote the high-quality development of inbound tourism. Recent focus: the sustainability of loose monetary policy in the first quarter.
