Sino-Singapore Jingwei, June 13 (Lei Zongrun) On the 13th, most of the Shibor short-end varieties went up. Overnight varieties rose by 0.5bp and reported 1.408%, 7-day period rose by 2.5bp and reported 1.7%, 14-day period rose by 1bp and reported 1.611%, and 1-month period fell by 0.1bp and reported 1.889%. In terms of news, what news in the bond market is worth paying attention to? Jingwei Jun will sort out for you one by one.
【Highlights Focus】
Central Bank: Carry out 10 billion yuan 7-day reverse repurchase operation
The business operation and compliance of credit rating agencies in the bond market in the first quarter were released
Minsheng Securities: Chairman Feng Henian was investigated and unable to perform his duties
Fitch: Affirmed Haidilao’s “BBB-” long-term issuer default rating, downgraded the outlook to “negative”
SDIC Power: Plans to issue renewable corporate bonds of no more than 5.7 billion yuan
【Macro Express】
Central Bank: Carry out a 7-day reverse repurchase operation of 10 billion yuan, and the winning interest rate is 2.10%
The central bank announced that in order to maintain reasonable and sufficient liquidity in the banking system, on June 13, a 7-day reverse repurchase operation of 10 billion yuan was carried out by way of interest rate bidding, and the winning rate was 2.10%. Wind data shows that the 10 billion yuan reverse repurchase expired today, so the amount of maturity was fully hedged on that day.
The latest financial data shows that in May, M2 increased by 11.1% year-on-year, and M1 increased by 4.6% year-on-year, 0.6 percentage points higher and 0.5 percentage points lower than that at the end of last month. Renminbi loans increased by 1.89 trillion yuan in May, a year-on-year increase of 392 billion yuan. The scale of social financing increased by 2.79 trillion yuan in May, an increase of 839.9 billion yuan over the same period of the previous year.
State Council: Further promote the reform of the financial system below the provincial level
On June 13, the General Office of the State Council issued the “Guiding Opinions on Further Promoting the Reform of the Financial System Below the Province”, requiring a clear definition of the financial powers and expenditure responsibilities below the provincial level. Appropriately strengthen education, scientific and technological research and development, basic endowment insurance for enterprise employees, basic medical insurance for urban and rural residents, food security, planning and construction of major infrastructure across cities and counties, ecological environmental protection and governance in key areas (watersheds), land and space planning and use control, prevention and the provincial fiscal authority to supervise and resolve local government debt risks. Basic public services such as social security, municipal transportation, urban and rural construction, rural roads, and management of public facilities, which directly face the grassroots and are provided by grassroots governments, are more convenient and effective, and are determined as the fiscal authority at the city and county levels.
【Regulatory Voice】
The business operation and compliance of credit rating agencies in the bond market in the first quarter were released
Recently, the Securities Industry Association and the Dealers Association announced that in the first quarter, 14 rating agencies contracted 1,879 bond products, a year-on-year decrease of 23.65% and a month-on-month decrease of 26.57%. In the first quarter, there was no positive adjustment, but the negative adjustment increased year-on-year; the downgrade of mid-fifth became a small adjustment; nearly 30% of the companies received multiple ratings, and the inconsistency rate of the same issuer’s grade increased slightly month-on-month.
【Entreprise’s news】
Minsheng Securities: Chairman Feng Henian was investigated and unable to perform his duties
On June 13, Minsheng Securities Co., Ltd. announced that Mr. Feng Henian, the company’s legal representative, chairman, president, and chairman of the executive committee, was investigated for suspected violations of discipline and law and was unable to perform his duties, and the duration might not be predicted for the time being. At present, the company has begun to study other personnel who meet the corresponding qualifications to perform the corresponding duties of Mr. Feng Henian and maintain the normal operation order of the company.
AVIC Airborne Systems: Subsidiary Plans Major Asset Restructuring
On June 13, AVIC Airborne Systems Co., Ltd. announced that AVIC Electromechanical Systems Co., Ltd., which is controlled by the company, and AVIC Avionics Systems Co., Ltd., which is controlled by AVIC Technology Industry Co., Ltd. and participated by the Airborne Company, are planning major assets. Restructuring, the shares of the two companies have been suspended since May 27.
Guangzhou Metro Group: “16 Guangzhou Metro Renewable Bond 02” is extended for 3 years
On June 13, Guangzhou Metro Group Co., Ltd. announced that “16 Guangzhou Metro Renewable Bonds 02” will be extended for 3 years. The value date of the bonds following the extension is July 25, 2022, and the maturity date of the bonds following the extension is July 2025. 25th.
China Fortune Land Development: Some bonds continue to be suspended
On June 13, China Fortune Land Development Holdings Co., Ltd. announced that some bonds are in the process of developing a repayment plan and are currently suspended from trading.
【Rating Change】
Fitch: Affirmed Haidilao’s “BBB-” long-term issuer default rating, downgraded the outlook to “negative”
On June 13, Fitch reported that it affirmed the long-term issuer default rating of Haidilao International Holdings Co., Ltd. to “BBB-“, the outlook was lowered from “stable” to “negative”, and confirmed its senior unsecured rating and senior unsecured rating. The Collateralized USD Notes are rated ‘BBB-‘.
Fitch: Affirmed Jin Jiang International’s “BBB-” long-term foreign currency issuer default rating, downgraded the outlook to “negative”
On June 10, Fitch reported that it affirmed Jin Jiang International (Group) Co., Ltd.’s long-term foreign currency issuer default rating of “BBB-“, the outlook was lowered from “stable” to “negative”, and confirmed its senior unsecured rating of “BBB-“.
Fitch: China Merchants Bank’s long-term foreign currency issuer default rating of ‘A-‘ affirmed, outlook ‘stable’
On June 13, Fitch reported that it affirmed China Merchants Bank Co., Ltd.’s long-term foreign currency issuer default rating of “A-” with a “stable” outlook, and confirmed its short-term issuer default rating of “F1” and a viability rating. is “bb+”.
Fitch: Shanghai Pudong Development Bank’s “BBB” long-term foreign currency issuer default rating affirmed, outlook “stable”
On June 13, Fitch reported that it affirmed Shanghai Pudong Development Bank Co., Ltd.’s long-term foreign currency issuer default rating of “BBB” with a “stable” outlook, and confirmed its short-term issuer default rating of “F2”, with a survivability It is rated ‘bb-‘ and its $5 billion medium-term note program is rated ‘BBB’.
【New bond issuance】
SDIC Power: Plans to issue renewable corporate bonds of no more than 5.7 billion yuan
On the evening of June 13, SDIC Power announced that the company plans to publicly issue renewable corporate bonds with a scale of no more than 5.7 billion yuan (including 5.7 billion yuan) to professional investors. Debt structuring, replenishment of working capital, project investment and other purposes permitted by applicable laws and regulations.
Dayuan Pump Industry: It plans to issue convertible bonds to raise funds of no more than 450 million yuan
On the evening of June 13, Dayuan Pump announced that it plans to issue convertible bonds to raise funds of no more than 450 million yuan, which will be used for technical transformation projects with an annual output of 3 million high-efficiency energy-saving pumps and an annual output of 4 million civil water pumps and supplementary flow. funds. (Sino-Singapore Jingwei APP)
(The opinions in this article are for reference only and do not constitute investment advice. Investment is risky, and you need to be cautious when entering the market.)
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