On the occasion of the two-year anniversary of the "Swap Connect," the average daily trading volume surged sevenfold, and the central bank has introduced an optimized policy package: the duration of interest rate swap contracts has been extended to 30 yea
As of the end of April 2025, 20 domestic Quote providers and 79 Overseas investors have cumulatively completed over 0.012 million RMB interest rate swap Trades, with a total nominal principal amount of about 6.5 trillion yuan.
According to Industrial Securities, the monetary policy report for Q1 2025 shows that the central bank's "leash" is in the process of being loosened, and the downward space for the yield curve may open up.
Industrial Securities advises investors to extend the duration, raise leverage, and prepare for the window period of declining yields.
SWHY: The impact of tariffs on PPI is significant, but the improvement in Consumer demand provides strong support for core CPI.
Outlook for the future: The impact of tariff shocks on PPI is greater than on CPI, and attention should still be paid to the support of domestic demand recovery on inflation.
The foreign trade continues to show a steady growth trend! In April, China's exports in dollar terms increased by 8.1% year-on-year.
In the first four months, the total value of my country's goods trade imports and exports reached 14.14 trillion yuan, a year-on-year increase of 2.4%。
China Logs 1.3% Rise in April Forex Reserve
The central bank lowered the 7-day reverse repurchase rate by 10 basis points.
The central bank conducted a 158.6 billion yuan 7-day reverse repos operation today, with an operation interest rate of 1.40%, down from 1.50%. Since there are no 7-day reverse repos maturing today, a net injection of 158.6 billion yuan was achieved.