Markets

China auctions 1 year fin min bills at record 4.04pc average yield

Published January 8, 2014 Updated January 8, 2014 05:31am

1 min

By Shoaib Ur Rehman

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SHANGHAI: China's Ministry of Finance auctioned 10 billion yuan ($165 million) of 1-year bills in the interbank market on Wednesday at an average yield of 4.04 percent, traders said, lower than expected but still a record high.

Market forecasts had centred around 4.17 percent and ranged from 4.12 to 4.25 percent.

The auction yield came in below Tuesday's indicative secondary market mid-yield of 4.18 percent for 1-year government bills.

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