China Development Bank 10-year bond yield at 3.85pc, within forecast

SHANGHAI: China Development Bank auctioned 20 billion yuan ($3.17 billion) of 10-year fixed-rate bonds in the interbank market on Tuesday at a yield of 3.85 percent, traders said, within market expectations.

Market forecasts had centred around 3.86 percent and ranged from 3.82 to 3.90 percent.

The result was below Monday's indicative secondary market yield of 3.9963 percent bid for 10-year financial bonds issued by policy banks.