交易量季节性萎缩利率冲高回落——2004年1月银行间同业拆借与债券系统交易情况综述

Seasonal shrinking in trading volumes and reversed V-shape interest rates REPORT ON THE INTERBANK LENDING & BOND SYSTEM IN JANUARY 2004

2004年1月份全国银行间同业拆借和债券市场交易量明显萎缩,春节前的一段时间市场资金面出现短暂缺口,受此影响市场利率迅速冲高回落,现券市场震荡走低。

In January 2004, the interbank lending and bond system experienced seasonal shrinking in trading volumes.Market rates followed a reversed V-shape due to the temporarily tight funding supplies before the Spring Festival.The bond market tossed downward.