Daily Report of China Onshore RMB Bond Market 2017

(1) ChinaBond Index Analysis

ChinaBond Composite Index tracking general performance of bond market went up today. The net price index excluding interest revenue declined by 0.0140%; and the total return index including interest reinvested revenue rose by 0.0279%. In addition, the average yield to maturity was 4.3728%. The average market capitalization yield was 4.3402%. And the market value weighted duration was 3.8615.

(2) Bond Market Performance:

Rate Securities

Generally speaking, the yields of Treasury Bonds and Policy Bank Bonds went up a little entirely. In the afternoon, the auction outcome of ADBC Bonds on 3Y/5Y increased a little. By the end of day, the yields of Treasury Bonds rose by 1BP entirely; The yield of CDB, ADBC and EXIMBC Bonds entirely ascended by 1-3BP except for a few bonds.

展开剩余83%

To be more specific, the yield of Treasury Bonds (3Y) rose by 1BP to 3.52% according to the transaction of 170016; 5Y Bonds increased by 1BP to 3.59% resulted from the transaction of 170014; referring to the quotation and transaction of 170013, the yield for 7Y Bonds went up by 1BP to 3.69%, and notably, the yield for Treasury Bonds (10Y) ascended by 2BP to 3.62% caused by the quotation and transaction of 170018; the yield for Treasury Bonds (30Y) went up by 1BP to 4.23% caused by the quotation and transaction of 170015.

The yields of CDB bonds went up entirely. The yield of 3Y Bond rose by 3BP to 4.23% because of the transaction of 170205; 5Y Bond increased by 2BP to 4.29% resulted from the quotation and transaction of 170206; referring to the transaction of 170215, the yield for 10Y Bond went up by 1BP to 4.24%.

Moreover, the yields of ADBC Bonds waved a little entirely. The yield for 3Y Bond kept stable at 4.24% according to the transaction of 170411; 5Y Bond rose by 1BP to 4.31% caused by the transaction of 170412.

Furthermore, the yields of EXIMBC Bonds fluctuated entirely. The yield for 5Y Bond kept stable at 4.31% according to the transaction of 170309; 10Y Bond rose by 1BP to 4.37% caused by the transaction of 170303.

Credit Bonds

The yields for credit bonds on short-term bonds and mid-term bonds were mixed entirely. To be more specific, the yield of 3M descended by 5BPs to 4.33%. The yield of AAA 6M decreased by 7BP to 4.35%, and the yield for 1Y kept stable at 4.52%. The yield for 3Y of AAA dropped by 3BP to 4.67%, while that of AAA 5Y Bonds increased by 1BP to 4.76%.

The short-term yields for Financial Bonds of Commercial Bank Yield, including CD, fluctuated entirely. The spot of Financial Bonds of Commercial Bank on (AAA 7d/1M/3M/6M/1Y) changed +15BPs, +9BPs, -10BPs, +5BPs and -3BPs to 3.40%, 4.34%, 4.26%, 4.43% and 4.50%.

The yields for Urban Construction Bonds decreased entirely. Specifically, the yield of Urban Construction Bonds AAA on 0.5Y/3Y/5Y changed by -1BP, -2BP and -3BP to 4.67%, 4.77% and 4.85%. The yields of AA Bonds on 2Y went down by 1BP to 5.03%, while that of 5Y decreased by 3BP to 5.28%.

What’s more, AAA Local Government Bonds on 2Y/5Y reached the level of 3.86% and 3.98% caused by market transaction. AAA- Local Government Bonds on 2Y reached the level of 3.91%.

Exchange Market

In addition, there was 6.3 billion of transaction on exchange bidding system, which was scale increased than previous. The yields of highly rated corporate bonds went up by 1BP. Those of corporate bonds and enterprise bonds with middle and low ratings decreased by 3BP. There was active transaction for 136136 today.

(3) Data and Statistics

Macro Economics:According to the Statistical Bureau, China’s CPI of August increased by 1.8% than the same period last year, the new highest since January 2017, while the expectation was 1.7% and the former data was 1.4%. China’s PPI of August ascended by 6.3% year on year, the new highest since April 2017, while the expectation was 5.8% and the former data was 5.5%.

Currency Market:the fund interest rates fluctuated a little entirely, with the overnight shibor up by 0.8BP to 2.6440%, and 1M shibor decreasing by 0.31BP to 3.9339%.

Foreign Exchange Data:the intermediate value of USD/CNY quotation is 6.4997 today, with CNY appreciating by 35BP today, making a new record of 11 consecutive days since the begin of 2011, which was the new highest since 12th May of last year.

PBOC:The Central Bank made an announcement that the liquidity in bank system was high enough to absorb the impact of issue payment of government bonds and reverse repurchase due, so it made no open market operation today.

Stock Market: The trends of the stock markets went up slightly today. Shanghai composite index increased to 3376.42 by 11.18 points (0.33%) and Shenzhen component index ascended to 11053.73 by 82.96 points (0.76%). GEM index rose by 11.11 points (0.59%) to 1896.38.

Treasury Future

搜狐知道|2018年初级会计职称会计实务教材精讲

声明:本文由入驻搜狐号作者撰写,除搜狐官方账号外,观点仅代表作者本人,不代表搜狐立场。
阅读 (0)

更多精彩 >>> 热点推荐 更多相关信息 精彩图库

热门推荐
热门文章