1. The Federal Reserve paused interest rate cuts, but the statement did not signal the timing of the next rate cut.
2. Powell warned that the US debt path is unsustainable.
3. Analysts: The "depreciation trade" sentiment in precious metals has not yet spread to larger markets such as the bond market.
4. The "three red lines" policy for real estate companies has ended, and the debt level of the real estate industry is trending towards health.
5. The Ministry of Finance released the ranking of spot trading volume of book-entry treasury bonds in 2025.
6. Leading real estate companies have made substantial progress in debt reduction, either through extensions or restructuring.
7. Shanghai's total social financing increased by RMB 1.1632 trillion in 2025.
8. Zoomlion: Plans to issue RMB 6 billion in convertible bonds maturing in 2031.
9. Shanghai Clearing House supported the successful issuance of the first cross-border guaranteed offshore bond in the free trade zone by a non-bank financial institution.
10. National Association of Financial Market Institutional Investors: Private enterprises issued RMB 578.2 billion in debt financing instruments in 2025, a year-on-year increase of 5.5%.
