The central bank's discussions with some "aggressive trading" Institutions have shaken the market; who are the Block Orders in this round of bond bull market? State-owned large banks have received the most "attention".

① The central bank's morning consultations mainly involved Institutions based in Beijing, with very few Institutions from other cities attending the meeting, including cities like Shanghai where asset management Institutions are concentrated. ② In the past two weeks, the Block Buy Institutions for 10-year government bonds have shifted from Fund to Banks. ③ As incremental policies come into effect, the likelihood of economic stabilization increases, necessitating a reduction in expectations for the bond market in 2025.

cls.cnDec 18 08:24 ET

Interest rates can reach 3%! Small and medium-sized Banks have densely launched high-interest products such as large-denomination certificates of deposit and special deposits. How will the pressure for short-term deposit strategies be relieved in the futu

① Some small and medium-sized Banks have engaged in such behavior, which somewhat contradicts the current downward trend of deposit interest rates, possibly being a short-term strategy taken to meet the funding Indicators in the short term. ② The overall trend of deposit interest rates may continue to decline in the future, and the recent rapid decline in bond market interest rates may also face some adjustments.

cls.cnDec 18 04:53 ET

Encouraging to "seize the opportunities of moderately loose MMF policy," many local officials are intensively researching local Banks at the end of the year, is a good start for next year to be expected.

① In discussions with local officials, frequently mentioned keywords include comprehensive, accelerated, risk, and servicing the local economy. ② For Financial Institutions, "the moderately loose monetary policy from the central government brings opportunities while also posing challenges." ③ If some mechanisms for due diligence exemption can be provided, it is expected to ease the lending pressure on Banks.

cls.cnDec 18 04:09 ET

Statistics Bureau: From January to November, national Real Estate Development investment decreased by 10.4% year-on-year.

Today, the National Bureau of Statistics released data showing that from January to November, national Real Estate Development investment was 9363.4 billion yuan, a year-on-year decrease of 10.4%; among which, Residence investment was 7119 billion yuan, a decrease of 10.5%.

cls.cnDec 15 21:06 ET

The interest rates of the same industry certificates of deposit are rapidly declining, and under "moderately loose" conditions, there is hope to drop to 1.30%.

1. After the improvement in MMF transmission efficiency, the CD interest rate and the 7-day OMO rate will integrate within the next year. 2. Due to the faster decline of long-term bonds, the spread between the 10Y government bond and the 1Y CD has been compressing, and is currently at 13BP.

cls.cnDec 13 05:18 ET

The interest rates for consumer loans at some "2"-tier banks will decrease by 10 basis points again in December, while the lowest interest rate at major banks has already dropped by 50 basis points this year.

① The consumer loan products promoted by banks with extremely low interest rates are mostly aimed at high-quality customers, so it is important for customers to pay attention to the actual interest rate level when applying, and then decide whether to borrow. ② The reduction in personal consumer loan interest rates helps to lower the costs for holders of consumer crediting, promoting demand for consumer crediting, and thus driving consumption.

cls.cnDec 9 22:21 ET