2019年7月银行间本币市场运行评述

Review of Interbank RMB Market Performance in July 2019

2019年7月,银行间市场成交量稳步增长,当月总成交量为111.8万亿元,环比增长21.7%,日均成交4.86万亿元,环比增长0.6%。银行间货币市场资金面前松后紧,利率较上月有所上行;利率债收益率整体以窄幅震荡为主,信用利差收窄,现券市场日均交易量小幅增加;互换利率整体下行,月内窄幅震荡。

In July 2019,the trading of the interbank market grew steadily.A total volume of 111.8 trillion yuan was traded throughout the month,up 21.7%month-on-month,with an average daily turnover of 4.86 trillion yuan,up 0.6%month-on-month.The interbank money market liquidity maintained accommodative in early July yet went tightening towards the end of the month,with the interest rates going up slightly from last month;the yields of interest rate bonds fluctuated within a small range,and the credit spreads narrowed down;the average daily trading volume of the cash bond market increased slightly;the IRS rates generally declined,fluctuating within a small range throughout the month.