China finance ministry sells 7-year bond at 2.9393pc, above f'casts

SHANGHAI: China's Ministry of Finance auctioned 33 billion yuan ($5.10 billion) of seven-year bonds in the interbank market on Wednesday at an average yield of 2.9393 percent, traders said, higher than expected.

Market forecasts had centred around 2.86 percent and ranged from 2.80 to 2.90 percent.

The auction yield came in above Tuesday's benchmark secondary market yield of 2.8455 percent for seven-year government bonds.

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