2018年4月银行间市场运行报告

China＇s Interbank Market Performance in April 2018

4月，货币市场流动性前松后紧，中下旬的流动性冲击令短期利率走高；债券市场收益率整体下降，成交量显著增长；利率互换曲线整体下移，成交量大幅增长；人民币对美元小幅贬值，人民币汇率指数再创新高；外汇掉期点保持平稳，期权波动率稳步走低；撮合交易占比持续走高，外币利率互换交易推出。

In April, the liquidity in the money market tightened up with the short-term interest rates rose driven by the liquidity shock in the second half of the month; the bond yields fell as a whole and the bond trading volume increased significantly; the IRS curve shifted downward, and the IRS trading volume increased markedly; the RMB depreciated slightly against the USD, and the RMB exchange rate indices hit new highs; the FX swap prices remained stable, and the FX options volatility declined steadily; the proportion of FX matchmaking transactions continued to rise, and the foreign currency IRS trading was launched.