2017年11月银行间本币市场运行评述

A review of interbank RMB market performance in November 2017

2017年11月，银行间本币市场交易活跃，当月交易总量为81．275亿元，日均成交3．69万亿元，日均交易量环比增加3．4％。银行间货币市场资金面紧平衡，公开市场操作对；中税期及月末资金需求；现券日均交易量增加，到期收益率上行，国开债与国债走势分化，信用利差走阔；互换利率交易规模回升，互换利率有所抬升，主要交易品种收盘曲线短端上翘明显。

The interbank RMB market remained active and traded 81.2 trillion yuan in November 2017, with the average daily trading worth picking up 3.4% month-on-month to 3.69 trillion yuan. The liquidity in the interbank money market maintained a tight balance, with the open market operations of the central bank offsetting the impact of tax payment and fund requirements approaching the end of the month; the daily trading volume of cash bonds increased, so did the yields to maturity of bonds; the CDB bonds and treasury bonds showed divergent trends of movement, and the credit spread widened; the trading of IRS picked up, the IRS rates edged up slightly, and the short end of the closing curves of major traded varieties shifted up markedly.