[Funding continues to be loose, bond market rises and falls] On October 16, capital prices continued to decline, and the bond market fluctuated after successive strengthening. On October 15, the main contract of 30-year Treasury futures hit a new high in the new year at the beginning of the trading session, but accelerated its decline in late trading and fell below the 118 yuan mark. At the same time, inter-bank funding continued to be loose. As of the close on the 15th, DR001 fell to 1.262%, down 0.38 basis points from the previous trading day, and continued to hit a new low since May 19. Respondents believe that the easing of bank liability pressure and the central bank's increased medium- and long-term liquidity injection have jointly supported the post-holiday bond market. With the tax period, government debt payments and cross-month demand concentrated in the second half of the year, whether funding rates can remain low will become an important factor affecting subsequent market conditions. The pace of hedging by the central bank deserves attention. (Shanghai Securities News)