Traders said that LPR was in line with market expectations and had no impact on bond interest rates. The 10-year treasury bonds fluctuated slightly throughout the day, trading activity was not high, and the real estate policy on Friday had basically been digested.
Financial Services Association, May 20 (Editor Liu Chen) LPR remains unchanged in line with market expectations. Most interbank repurchase interest rates have risen, and the bond market fluctuation is limited.
Yields on major interbank interest rate bonds have mostly risen. As of 16:30 Beijing time, the yield of 10-year active treasury bonds rose 0.2 bp to 2.308%, the yield of 5-year active treasury bonds rose by 0.2 bp to 2.308%, the yield of 5-year active treasury bonds rose by 1 bp to 2.105%, and the yield of 10-year CDB active bonds rose 0.3 bp to 2.408%.
(Data source: QB, compiled by the Financial Federation)
Traders said that LPR was in line with market expectations and had no impact on bond interest rates. The 10-year treasury bonds fluctuated slightly throughout the day, trading activity was not high, and the real estate policy on Friday had basically been digested.
On the primary market side:
On the open market side, the central bank announced that in order to maintain reasonable and abundant liquidity in the banking system, a 7-day reverse repurchase operation of 2 billion yuan was launched on May 20 through interest rate tenders, and the winning bid interest rate was 1.8%. According to Wind data, the reverse repurchase of 4 billion yuan expired on the same day, resulting in a net return of 2 billion yuan in a single day.
In terms of capital, most of the Shibor short-end products are declining. Overnight varieties remained flat at 1.719%; the 7-day downtrend of 0.5BP at 1.803%; the 14-day upward trend of 2.3BP at 1.871%; and the 1-month downtrend of 0.2BP at 1.905%, a new low since August 2023.
The People's Bank of China authorized the National Interbank Lending Center to announce that on May 20, the loan market quoted interest rate (LPR) was 3.45% for 1-year LPR and 3.95% for LPR for 5 years or more, all of which remained unchanged.
The exchange bond market closed, and real estate bonds had mixed ups and downs.
According to Choice statistics, the top five declines in non-financial credit bonds in the exchange market today are: 200,000 Ke 02, 20 Guizhou, 22 Shenzhen 03, 24 Shenzhen Railway 09, and 23 Chengtong 12. The details are as follows:
According to Choice statistics, the top five non-financial credit bonds in the exchange market today are: 210,000 Ke 02, 21 Chongqing Advance 01, 210,000 Ke 06, 220,000 Ke 06, and 23 Jinghu Bonds. The details are as follows:
Interbank repurchase rates have mostly risen.
(Data source: Choice, compiled by the Financial Federation)
In terms of deposits, today's 3M Chinese stocks are in good demand at 1.77%-1.92%, down 0.47 bps from the previous day, and the 1Y China Stock Report is at 2.075%-2.15%, up 0.5 bps from the previous day. In terms of AAA deposits, 9M transactions are at 2.13%, and 1Y transactions are at 2.12%.
