Jan 20, 2020 (China Knowledge) - Today 216 new bonds to be listed for trading, 47 new bonds put up for tender.
In order to hedge against the impact of economic factors such as T-bond issuance and large cash injection, and to maintain liquidity of the banks before the Spring Festival, PBoC launched an RMB 250 bln reverse repo operation today. The 14-day reverse repo bid rate remained unchanged at 2.65%.
T-bond futures opened with 10-year contracts rose by 0.22% and 5-year contracts up by 0.15%.
7-day pledge-style T-bond on the Shanghai Stock Exchange (SSE) rose 2.5bp to open at 3.29%
PBoC launched an RMB 250 bln 14-day reverse repo operation with the non-reverse repo expiring today. PBoC posted a net investment of RMB 250 bln today.
The 1-day pledged repo (DR001) at the depository opened at 2.50%, and the weighted average price of the previous day was 2.3886%. The 7-day pledged repo (DR007) at the depository opened at 2.60%, and the weighted average price was 2.5916% the previous day.
The yields on 10-year bond ‘190215’ issued by China Development Bank fell 0.25bp to 3.52%.
China Merchants Securities believes that fund demand has been temporarily tightened over the years, but last week ’s debenture bond issuance exceeded 380 bln and net financing exceeded 270 bln, a record high.
China's Bond market issued a total RMB 45.3 trln of various Bond in 2019, an increase of 3.1% over the previous year. As of the end of Dec 2019, China's Bond market deposit balance was RMB 99.1 trln.
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