On August 18, the Ministry of Finance reported that in order to support treasury bond market making, improve the liquidity of treasury bond secondary market, and improve the treasury bond yield curve that reflects the relationship between market supply and demand, the Ministry of Finance decided to carry out treasury bond market making support operations. The direction of this operation is to sell along with the market. The types of operating bonds are 2025 bookkeeping interest bearing (10 periods) treasury bond and 2025 bookkeeping interest bearing (12 periods) treasury bond, with operating amounts of 270 million yuan and 280 million yuan respectively. The competitive bidding time is 11:05-11:35 on August 19. In terms of the listing arrangement and payment of operating funds of the securities sold along with the securities, the Ministry of Finance has made it clear that the securities sold along with the treasury bond of the same period will be listed and traded together from August 22, 2025. The participating institutions winning the bid shall pay the operation funds into the designated fund account of the Ministry of Finance no later than August 20, 2025, and the payment date shall be subject to the receipt of the funds in the designated account of the Ministry of Finance. The market making support mechanism for treasury bond refers to the market behavior of the Ministry of Finance in the national inter-bank bond market to support market makers in the inter-bank bond market to make market for newly issued key term treasury bond by using tools such as buy and sell as soon as possible. When a key term treasury bond is not popular in the secondary market of treasury bond bonds and there is an obvious phenomenon of oversupply, the Ministry of Finance will buy it back from market makers, that is, buy it as you go; When the supply of a key term treasury bond is obviously less than the demand in the secondary market of treasury bond, the Ministry of Finance will sell an appropriate amount of treasury bond to market makers for circulation, that is, sell as you go operation. Zeng Yu, chief fixed income analyst of CSC Securities, said that treasury bond bond market making support operations will be carried out regularly for a long time. From this year's operational situation, each time there are 2 types of bonds being operated, and the direction is always for immediate sale. The market making support operation planned for August is a routine measure and has little impact on the current market yield. (New Society)