China 10-year bond yield at 3.4509pc, as expected

SHANGHAI: China's Ministry of Finance auctioned 28 billion yuan ($4.4 billion) of 10-year bonds in the interbank market on Wednesday at an average yield of 3.4509 percent, traders said, within market expectations.

Market forecasts had centred around 3.46 percent and ranged from 3.42 to 3.48 percent.

The auction yield came in slightly below Tuesday's indicative secondary market bid yield of 6.5145 percent for 10-year government bonds.