Markets

China 5-year fin min bond yield at 3.9146pc, below forecasts

Published May 28, 2014 Updated May 28, 2014 05:40am

1 min

By Shoaib Ur Rehman

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SHANGHAI: China's Ministry of Finance auctioned 28 billion yuan ($4.48 billion) of five-year bonds in the interbank market on Wednesday at an average yield of 3.9146 percent, traders said, lower than expected.

Market forecasts had centred around 3.98 percent and ranged from 3.93 percent to 4.00 percent.

The auction yield came in below Tuesday's benchmark secondary market yield of 4.0018 percent for five-year government bonds.

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