Markets

China 3-year fin min bond yield at 3.90pc, as forecast

Published May 7, 2014 Updated May 7, 2014 04:49am

1 min

By Shoaib Ur Rehman

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SHANGHAI: China's Ministry of Finance auctioned 28 billion yuan ($4.50 billion) of three-year bonds in the interbank market on Wednesday at an average yield of 3.90 percent, as expected, traders said.

Market forecasts had centred around 3.90 percent and ranged from 3.85 to 3.97 percent.

The auction yield came in near Tuesday's benchmark secondary market yield of 3.9770 percent for three-year government bonds.

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