2024-11-18-中证指数-中证债券估值日报20241119_4页_499kb

Market Dynamics

• Open Market: Central bank conducted 2883 billion yuan of 7-day reverse repo at 1.50%, with 1,255 billion maturing, resulting in a net increase of 1,628 billion yuan.
• Money Market: Overnight Shibor rose to 0.0000% (up 0.00 BP), with other maturities stable; overnight repo weighted rate up 1 BP to 1.49%, indicating higher funding costs.
• Bond Market: Exchange-traded bond trading decreased by 160 billion yuan to 1,525 billion, with company bonds falling.
• Government Bond Futures: Mixed performance, with 10-year contract up 0.15% to 106.750, 5-year up 0.10% to 105.325, and 2-year unchanged.
• Stock Market: Indices rose, including Shanghai Composite +0.67%, Shenzhen Component +1.90%, and创业板指 +3.00%.

Valuation Changes

• Interest Rate Bonds: Yields generally declined, e.g., 10-year treasury down 1 BP to 2.10%.
• Credit Bonds: Yields increased overall, with various subcategories showing slight changes.

Index Changes

• 中证 Bond Index rose 0.066%, with top performers including 中证10+债指数 (+0.189%) and 10-year bond index (+0.083%).

Summary highlights net monetary injections, rising funding costs, bond yield adjustments, mixed government bond futures, stock gains, and specific index movements.