2017年7月银行间本币市场运行评述

A review of interbank RMB market performance in July 2017

2017年7月，银行间本币市场交易活跃，当月交易总量为70万亿元，日均成交3．33万亿元，交易总量环比减少6．2％。银行间货币市场资金面平衡，货币市场平稳运行；现券到期收益率短端下行，长端上行，收益率曲线陡峭化，信用利差短端走阔，长端缩窄；互换利率下行，主要交易品种收盘曲线下行。

In July 2017, the trading of interbank RMB market maintained active and totaled 70 trillion yuan, down 6.2% month-on-month, with an average daily trading worth of 3.33 trillion yuan. The liquidity in the interbank money market maintained balanced, and the money market operated smoothly; the short end of the yields to maturity of cash bonds dipped while the long end upshifted, with the bond yield curve going steeper; the short term credit spreads widened while the long term credit spreads narrowed down; the IRS rates declined and the closing curves of major traded varieties also descended.