The Overnight Interest Rate Returned To 4%&Nbsp After 1 Months; The Central Bank Suspended The Repurchase.

The end of the season and the National Day are gradually approaching. The online purchase of IPO of China's largest hydropower unit on the stock market started on Tuesday, pushing the short-term interest rate across the board all the way up. After 1 months of Shanghai interbank offered rate (Shibor) overnight, it stood 4% again.

Capital interest rate uplink

"The subscription of new shares is new today, but the capital market is not very tight, so it should not be tight before the holiday, and everyone is well prepared."

Yesterday, Jinyuan securities analyst Jing Wong told reporters.

This reporter learned from the national interbank lending center, yesterday, short-term Shibor gains were above 50 basis points, of which overnight varieties rose 95.92 basis points to 4.0550%, ending the previous four consecutive trading days.

The industry believes that the upward trend of the capital interest rate is closely related to China's hydropower IPO frozen capital, although its fund-raising amount is at most 14 billion 400 million yuan, but it will remain the largest IPO of A shares this year.

Yesterday was the stock.

This week, the open market has only 59 billion yuan of funds due to maturity, which are 5 billion and 3 months' central bank bills and 24 billion and 1 year central bank bills, and 30 billion yuan, 7 days.

The central bank's open market has been released for ten consecutive weeks, with a total liquidity of 399 billion yuan.

Yesterday, the central bank issued the seventy-fourth central bank bills in 2011 by price bidding, with a circulation of 2 billion yuan, with a term of 1 years, with a reference rate of 3.584%.

And last Tuesday, the central bank not only issued a 1 billion yuan 1 year central bank ticket, but also carried out a 30 billion yuan 7 day repurchase, which is the short-term return operation, which has increased the volume of maturity this week.

Everbright Bank (2.97, -0.03, -1.00%) (micro-blog) chief macroeconomic analyst Sheng Hongqing (micro-blog) pointed out: "the central bank's attitude is very clear, does not carry on the repurchase, only symbolizes the central bank.

I always worry that national day has a great impact on capital. It seems that we can have peace of mind.

Another trader told the newspaper: "under the influence of seasonal factors, the trend of short-term varieties will grow to long-term varieties. Before the end of the month, a small amount of open market operations will expire, such as the continuation of rolling operation, Shibor or acceleration.

This week, the central bank should still focus on net investment.

Societe Generale Securities (14.51, -0.27, -1.83%) (micro-blog) analysts believe that although the current funding side is still loose, but faced with the impact of large cap stocks IPO, the end of the season, "eleven" long holidays and other factors, this week's open market operation or weakened, will continue to maintain a net release pattern.

The fixed income Department of Huatai Securities also said that this week is the last week of the end of the quarter, and the central bank's open market should still focus on net investment, so as to prevent fluctuations in the interest rate at the end of the quarter.

However, only when inflation is clearly inflection point, liquidity is expected to be slack.

Many analysts also pointed out that the capital market is not optimistic from the perspective of foreign exchange.

"It is expected that in August and early 9, hot money will flow in large quantities, and the hot money will fall sharply or even outflow in late September and October. Then foreign exchange will also fall sharply, exacerbating the liquidity strain in October."

Societe Generale Securities analyst Cai Yanfei said.