The arrangements for second-quarter government bond issuance have been announced, and institutions believe that issuance is expected to increase significantly in the second quarter.

ME News report: On March 31 (UTC+8), the Ministry of Finance released the issuance arrangements for the 2026 second-quarter key-tenor treasury bonds, short-term treasury bonds, ultra-long-term general treasury bonds, and savings treasury bonds. From the perspective of key-tenor treasury bonds, in the second quarter of 2026, 19 key-tenor treasury bonds will be issued, which is 3 more than in the same period of 2025. Ten-year treasury bonds are an important pricing benchmark for the capital market; in the second quarter of 2026, 6 ten-year treasury bonds will be issued, which is 1 more than in the same period of 2025. Regarding the amount of treasury bond issuance in the second quarter, a research report from China Post Securities suggests that the 2026 fiscal deficit rate target continues the higher level from 2025. The issuance pace in the first quarter shows a notably front-loaded characteristic, similar to that of the same period last year. Based on the assumption of early efforts, treasury bonds in the second quarter are expected to see an expansion in issuance. A research report from CITIC Futures also believes that treasury bond supply in the second quarter may still be on the faster side. Market attention is focused on the issuance arrangements for the special treasury bonds and ultra-long-term special treasury bonds that have not yet been announced. (Source: Jinshi)