1. The deficit ratio for 2026 is planned to be around 4%, with a proposed issuance of 1.3 trillion yuan in ultra-long-term special treasury bonds.
2. Government Work Report: Actively and orderly resolve local government debt risks.
3. State Council Research Office interprets the Government Work Report: The central government's debt ratio is relatively low, and conditions for further reserve requirement ratio and interest rate cuts remain.
4. 250 billion yuan in special treasury bonds support the trade-in program, providing tangible financial support to stimulate consumption.
5. Chen Changsheng: The central government's debt ratio is low, and conditions for further reserve requirement ratio and interest rate cuts remain.
6. The situation in the Strait of Hormuz shows signs of improvement, and the risk of credit default in the Eurozone has slightly decreased.
7. Energy inflation concerns support US Treasury yields, and the Middle East is reshaping risk pricing in the global bond market.
8. Guoxin Securities completes the issuance of its second corporate bond tranche for 2026, totaling 6 billion yuan.
9. Japanese investors sold off the largest amount of overseas bonds since 2024 last month.
10. Lack of regulatory transparency triggers credit warnings, Indonesia's sovereign credit faces a battle to defend.
