2020年第三季度银行间市场运行报告

China’s Interbank Market Performance in Q,2020

2020年三季度,国内宏观经济各项数据指标逐渐改善,基本面恢复情况较好,货币政策保持稳健,银行间市场流动性合理充裕,货币市场短期利率和国债收益率均延续上行趋势,带动利率互换收益率曲线整体上移。人民币兑美元汇率有所升值,人民币汇率指数上升;外汇掉期上升,人民币汇率期权波动率走高。

In Q3,2020,China’s macroeconomic data gradually improved,and the fundamentals were recovering and going positive.The monetary policy remained prudent and the interbank market liquidity maintained reasonably accommodating.Both the short-term rates and the treasury yields of the money market maintained an upward trend,driving the IRS yield curve to an overall upward shift.The USD/RMB exchange rate appreciated slightly,and the RMB index rose;the FX swap points rose and the volatility of CNY options went higher.