The central bank after a lapse of six months to restart the 14 day reverse repo bond market release -cashmere mafia

The central bank after a lapse of six months to restart the 14 day of the reverse repo bond market release lever signal Sina exposure platform: letter Phi lag behind false propaganda, the performance of long-term lower than similar products, how to buy funds pit? Click [I want to complain], Sina help you expose them! The central bank after half a year to restart the 14 day reverse repo bond release lever down signal after each intern reporter Zhang Shoulin on August 24th, the central bank interest rate tender to carry out open market operations, including the scale of 50 billion yuan of 14 day repurchase, the successful rate of 2.40%. Following the February, 14 days after the repurchase repurchase more than half a year back. The market generally believes that the 14 day reverse repurchase operation is a response to market funds face tension. But the SWS Hongyuan Securities Research Institute chief analyst Gui Haoming told reporters that the central bank through the extended fund lending period, raise the cost of capital, thereby inhibiting the long-term bond trading with leverage, is short-term funds into long-term signal released by the bond market. Interbank lending rates continue to rise recently, interbank lending rates continue to rise. Overnight Shibor rose from 2.0230% in August 19th to August 24th of, or 2BP; the 7 day Shibor rose from the year of August 20th to 2.3620% in August 24th, the rate of 1.53BP (). Even Japan, the central bank continued to put money into the market, in August 23rd to carry out 7 days of 100 billion yuan repurchase in the open market operation, the 80 billion yuan reverse repurchase expires, the end of the previous three consecutive days of net return, net invested slightly 20 billion yuan. Yesterday, the central bank also carried out a 90 billion day repurchase operations of $7, interest rates remain at 2.25%. Hedge 100 billion yuan due to reverse repurchase, today to achieve a net investment of $40 billion. The idea that the 14 day reverse repurchase operations to restart the root cause is more complementary to the total flow, because of foreign exchange from July began to fall. More analysis, the central bank increased 14 day repurchase operation, in order to better stable mechanism of liquidity is expected to increase the flexibility and the central bank’s open market operations, to avoid the liquidity squeeze down passive signal to release the statutory reserve rate policy easing. However, in August 24th from overnight to 1 year Shibor rose, including overnight and the 7 day Shibor increased by 1BP. Gui Haoming told reporters that recently, the long end of the interest rate decline, because the agency with short-term products plus leverage to do speculative bonds, which may be the central bank does not want to see. By carrying out 14 days of reverse repo, extended period, raise the cost of capital, indirectly play a curb leverage. Gui Haoming believes that this is mainly a reasonable consideration of the term structure. Short before the launch of more short-term funds through the leveraged bond bonds. 14 days of the term, the interest rate is relatively high, can give the bond cooling. Interbank market interest rates rose, reflecting the market reacted strongly. Central bank signaling transmission bond market financial theory相关的主题文章:

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