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Markets

China's 3-year finance ministry bond yield higher than forecasts

SHANGHAI : China's Ministry of Finance sold 30 billion yuan ($4.7 billion) of reopened three-year bonds in the interbank
Published September 7, 2011 Updated September 7, 2011 05:34am
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By Shoaib Ur Rehman
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chineseSHANGHAI: China's Ministry of Finance sold 30 billion yuan ($4.7 billion) of reopened three-year bonds in the interbank market on Wednesday at an average yield of 3.9134 percent, traders said, higher than expected.

Market forecasts had centred around 3.85 percent and ranged from 3.77 to 3.90 percent.

The auction yield came in above Tuesday's indicative secondary market bid yield of 3.8774 percent for three-year government bonds .

 

Copyright Reuters, 2011

 

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