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The yields on 10-year bond ‘190215’ issued by China Development Bank was down 2.76 bp at 2.74%.
Since Feb, the issuance of NCD (negotiable certificate of deposit) has rebounded rapidly, with the issuance of RMB 816.47 bln in only half a month, exceeding the total issuance in Jan.
T-bond futures opened lower with 10-year and 5-year contracts up 0.18% and 0.08%, respectively.
The opening price of 1-day inter-bank pledge-style repo (DR001) was 2.30%, and the weighted average price of the previous day at 1.3218%. The opening price of the 7-day inter-bank pledge-style repo (DR007) priced at 2.40%，and the weighted average price of previous day was 2.1435%.
Today SSE T-bond index opened slightly higher, up 0.01% at 179.40 bp.
14-day pledge-style T-bond on the Shanghai Stock Exchange (SSE) increased 5.5 bp to 2.48%.
PBoC says the banking system’s liquidity is at reasonably level，it will not carry out reverse repo, and no reverse repo will come due today.