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
SHANGHAI: 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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