2020年1月银行间市场运行报告

China’s Interbank Market Performance in January 2020

1月,货币市场利率先扬后抑;债券市场收益率整体下行;利率互换曲线整体下移。人民币汇率小幅升值;外汇掉期曲线更为陡峭;外汇期权隐含波动率曲线平坦化。

In January,the money market interest rates presented a V-shaped movement;the bond yields fell generally;andthe IRS curve shifted downward.The RMB exchange rate appreciated slightly;the FX swap curve went steeper;the implied volatility curve of FX options flattened.