Macro: The central bank made a small amount of net investment through reverse repurchase today, but the net withdrawal scale this week still reached 505 billion yuan, and the weighted average of inter-bank pledged repos Interest rates continue to rebound, with overnight varieties still below 1% and seven-day varieties rising for the third consecutive day. As of 10:30 Beijing time, the 1-day repo rate increased by 4 basis points to 0.9507%; the 7-day repo rate increased by 42 basis points to 2.1417%. Bloomberg quoted traders as saying that liquidity in early trading was looser than the previous day, with all maturities being sold out.
The Forecasting Science Research Center of the Chinese Academy of Sciences has released China’s economic forecast data for 2020. It is expected that the GDP growth rate for the whole year of 2021 will be about 8.5%, and our country’s economy will rebound rapidly. According to forecast data, my country’s economic growth will show a trend of highs and lows in 2021, with around 16.3% in the first quarter, 7.3% and 6.3% in the second and third quarters, and 5.9% in the fourth quarter.
Epidemic: From January 2 to 10:00 on January 8, there were 127 confirmed cases in Hebei Province (118 cases in Shijiazhuang, 9 cases in Xingtai), asymptomatic infections still under medical observation There were 183 cases (177 cases in Shijiazhuang and 6 cases in Xingtai).
Fundamentals: Cotton yarn prices continued to rise this week, and yarn transactions increased slightly year-on-year, but decreased slightly month-on-month. Affected by the epidemic, some areas may have holidays in advance, which will have a certain impact on production capacity. In the short term The inner cotton yarn still maintains strong operation.