China finance ministry 5-year bond sold at 2.75pc, above forecast

SHANGHAI: China's Ministry of Finance reopened 30 billion yuan ($4.73 billion) of five-year bonds in the interbank market on Wednesday a t an average yield of 2.7 5 29 percent, traders said, higher than expected.

Market forecasts had centred around 2.65 percent and ranged from 2.58 to 2.73 percent.

The auction yield came in above Tuesday's indicative secondary market bid yield of 2.6780 percent for five-year government bonds.