ChinaBond Composite Index tracking general performance of bond market wentup today. The net price index excluding interest revenue rose by 0.0553%; andthe total return index including interest reinvested revenue rose by 0.0652%.In addition, the average yield to maturity was 4.3824%. The average marketcapitalization yield was 4.4414%. And the market value weighted duration was3.8609.
Generallyspeaking, the yields of short-term Treasury Bonds and Policy Bank Bonds experiencedan small fluctuation as a whole. In the morning, the auction outcome of EXIMBCBonds on 1Y/5Y/10Y decreased slightly; in the afternoon, the auction outcome ofCDB Bonds in Shanghai Stock Exchange on 2Y/5Y went up obviously. By the end of day, the yields of TreasuryBonds showed mixed pattern, waving within 2BPs, and the yields for CDB, ADBCand EXIMBC Bonds dropped by 1-3BPs entirely.
To be morespecific, the yield of Treasury Bonds (3Y) went down by 2BPs to 3.55% accordingto the transaction of 170008; 5Y Bonds went down by 1BP to 3.54% resulted fromthe transaction of 170007; referring to the quotation and transaction of170006, the yield for 7Y Bonds kept stable at 3.6%, and notably, the yield forTreasury Bonds (10Y) increased by 2BPs to 3.56% caused by the quotation andtransaction of 170010.
Similarly, theyields of CDB bonds went down slightly. The yield of 3Y Bond dropped by 2BPs to4.22% because of the transaction of 170205; 5Y Bond went down by 3BPs to 4.18%resulted from the quotation and transaction of 170206; referring to thetransaction of 170210, the yield for 10Y Bond kept stable at 4.22%.
Moreover, yieldsof ADBC Bonds went down slightly. The yield for 3Y Bond dropped by 1BP to 4.29%according to the transaction of 170402; 5Y Bond decreased by 2BPs to 4.30%caused by the transaction of 170409; while 10Y Bond dropped by stood at 4.33%referring to the transaction of 170405.
The yields ofEXIMCH Bonds waved slightly. The yield for 3Y Bond went down by 3BP to 4.30%according to the transaction of 170307; 5Y Bond went down by 4BPs to 4.3%according to the transaction of 170304; caused by the transaction of 170303,10Y Bond descended by 1BP to 4.34%.
What’s more, AAA Local Government Bonds on1Y/2Y dropped to the level of 3.98% and 4.00% caused by market transaction.
The yields forcredit bonds dropped entirely today, and those of some AA Bonds went downsharply. To be more specific, the yields of AAA CP&Notes on 3M descended by2BP to 4.28%. The yield of AAA 6M went down by 1BPs to 4.55%, and the yield for1Y decreased by 1BP to 4.60%. The yield for 3Y of AAA decreased to 4.70% by3BPs, while that of AAA 5Y Bonds dropped by 5BPs to 4.73%. The yield for 2Y/4Yof AA+ went down by 8-10BPs to 5.37% and 5.38%.
The yields for FinancialBonds of Commercial Bank Yield, including CD, presented mixed pattern focusedby funding intense. The spot of Financial Bonds of Commercial Bank on (AAA 7d/1M/3M/6M)changed -10BPs, 0BP, 0BP and -3BPs to 3.64%, 4.94%, 4.79% and 4.70%.
The yields forUrban Construction Bonds experienced a downtrend entirely, especially for lowand mid credit rating bonds. Specifically, the yield of Urban ConstructionBonds AAA on 1Y/4Y decreased by 1BP and 2BPs to 4.75% and 4.77%. The yields of AABonds on 2Y/3Y changed by -10BPs and -5BPs to 5.26% and 5.471%.
In addition, therewas 6.8 billion of transaction on exchange bidding system, which was scale increasedthan previous. The yields of highly rated corporate bonds went down by 1BP; thoseof corporate bonds and enterprise bonds with middle and low ratings alsodropped by 1BP. There was active transaction for 1280053 today.
Foreign Exchange Data: the intermediatevalue of USD/CNY quotation is 6.7852 today, with CNY decreasing by 87BPs today,being the newly highest since November of last year.
Currency Market:the fund interestrate climbed slightly today, with 1M shibor up by 1.2BPs to 4.6946%, while 3Mshibor descended by 1.04BPs to 4.7723%.
PBOC:the Central Bank madea series of reverse repurchase of 50 billion Yuan for 7 days, 40 billion Yuanfor 14 days and 60 billion Yuan for 28 days. There was 60 billion Yuan reverserepurchase and 60 billion Yuan treasury cash fixed-deposit due today, and theCentral Bank made a net release with 30 billion Yuan.
Stock Market:The stock marketsboth went up after shock today. Shanghai composite index descended to 312.49 by1.81 points (0.06%) and Shenzhen component index increased to 10221.69 by 70.16points (0.69%). GEM index went up by 25.62 points (1.43%) to 1816.26.