This week, there are trillions of yuan in reverse repurchase agreements maturing, and the funding market in May is expected to be moderately loose.

In the first week after the May Day holiday, 1.62 trillion yuan of reverse repurchase funds will mature. In addition to 900 billion yuan of buy-back repurchase and 125 billion yuan of medium-term lending facility maturing in May, the market liquidity will face a temporary peak of return. Against the backdrop of accelerating government bond supply and lingering external uncertainties, market focus is shifting back to the rhythm of central bank operations. Institutions predict that overall liquidity in May will remain in a "balanced and slightly loose" pattern, with structural easing tools likely taking the lead as an important means of adjusting short-term liquidity.