As October comes to a close, the market faces a dual test of "major tax period + month-end." Industry insiders believe that short-term liquidity may tighten temporarily this week, but the overall disturbance is limited, and the central bank's related operations are expected to stabilize fluctuations. A report from HUAXI Securities suggests that the recent rapid decline in bill rates, combined with large banks' continuous net purchases, may indicate that real financing demand remains weak and that there is insufficient momentum for credit expansion. This phenomenon has, to some extent, alleviated the tension caused by the tax period factors
