ChinaBondComposite Index tracking general performance of bond market roared up today.The net price index excluding interest revenue rose by 0.2014%; and the totalreturn index including interest reinvested revenue rose by 0.2397%. Inaddition, the average yield to maturity was 4.3346%. The average marketcapitalization yield was 4.3777%. And the market value weighted duration was3.8657.
Generallyspeaking, the yields of Treasury Bonds and Policy Bank Bonds experienced a sharpdowntrend as a whole, with the market tending to be long and main force ofTreasury Bond Futures up sharply. By the end of day, main force of TreasuryBond Futures on 10Y went up by 0.59%; the yields of Treasury Bonds, CDB, ADBCand EXIMBC Bonds dropped by 6-8BPs.
To be morespecific, the yield of Treasury Bonds (3Y) went down by 7BPs to 3.49% accordingto the transaction of 170008; 5Y Bonds went down by 8BPs to 3.48% resulted fromthe transaction of 170007; referring to the quotation and transaction of170006, the yield for 7Y Bonds dropped by 7BPs to 3.54%, and notably, the yieldfor Treasury Bonds (10Y) dropped by 7BPs to 3.5% caused by the quotation andtransaction of 170010.
Similarly, theyields of CDB bonds went down slightly. The yield of 3Y Bond dropped by 6BPs to4.17% because of the transaction of 170205; 5Y Bond went down by 6BPs to 4.13%resulted from the quotation and transaction of 170206; referring to thetransaction of 170210, the yield for 10Y Bond dropped by 7BPs to 4.16%.
Moreover, yieldsof ADBC Bonds went down slightly. The yield for 3Y Bond dropped by 3BP to 4.24%according to the transaction of 170402; 5Y Bond decreased by 6BP to 4.23% causedby the transaction of 170409; the yield for 10Y Bond went down by 7BPs to 4.27%according to the transaction of 170402.
Furthermore, theyields of EXIMBC Bonds also dropped. The yield for 3Y Bond dropped by 3BP to4.24% due to the transaction of 170307; 5Y Bond went down by 4BPs to 4.25%according to the transaction of 170304; 10Y Bond decreased by 6BPs to 4.29%caused by the transaction of 170303.
What’s more, AAA Local Government Bonds on 3Y/5Ywent down to 3.97% and 4.04% caused by market transaction.
The yields forcredit bonds showed obvious downtrend today. To be more specific, the yields ofAAA CP&Notes on 3M ascended by 2BPs to 4.30%. The yield of AAA 6M went downby 5BPs to 4.49%, and the yield for 1Y decreased by 3BPs to 4.53%. The yieldfor 3Y of AAA dropped to 4.63% by 7BPs, while that of AAA 5Y Bonds went down by4BPs to 4.69%.
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 +4BPs, -5BPs, -6BPs and -8BPs to 3.89%, 4.88%, 4.68% and 4.64%.
The yields forUrban Construction Bonds experienced an obvious downtrend. Specifically, theyield of Urban Construction Bonds AAA on 1Y/3Y changed -3BPs and -5BPs to 4.72%and 4.68%. The yields of AA Bonds on 2Y/5Y changed -10BPs and -6BPs to 5.10%and 5.54%.
In addition, therewas 5.0 billion of transaction on exchange bidding system, which was scale increasedthan previous. The yields of highly rated corporate bonds went down by 3BPs; thoseof corporate bonds and enterprise bonds with middle and low ratings alsodropped by 3BPs. There was active transaction for 1280053 today.
(3)Data and Statistics
Foreign Exchange Data: the intermediatevalue of USD/CNY quotation is 6.7972 today, with CNY decreasing by 23BPs today.CFETS RMB Exchange Rate Index was 93.24 on 16th June, up by 0.15than last week.
Currency Market:the fund interestrate presented mixed pattern today, with overnight shibor up by 1.07BPs to 2.8653%,while 1M shibor descended by 0.11BPs to 4.6979%.
PBOC:the Central Bank madea series of reverse repurchase of 50 billion Yuan for 7 days, 40 billion Yuanfor 14 days and 30 billion Yuan for 28 days. There was 10 billion Yuan reverserepurchase due today, and the Central Bank made a net release with 110 billionYuan.
Stock Market:The stock marketsboth went up today. Shanghai composite index descended to 3144.37 by 21.21 points(0.68%) and Shenzhen component index increased to 10262.8 by 71.56 points (0.7%).GEM index went up by 6.35 points (0.35%) to 1816.4.