China Development Bank five year bond yield near high end of forecast

SHANGHAI: China Development Bank auctioned 20 billion yuan ($4.7 billion) of five-year fixed-rate bonds in the interbank market on Friday at a yield of 4.68 percent, traders said, at the high end of market expectations.

Market forecasts had centred around 4.65 percent and ranged from 4.60 to 4.70 percent.

The result was above Thursday's indicative secondary market yield of 4.612 percent bid for five-year financial bonds issued by policy banks .

Copyright Reuters, 2011