Business & Finance
China Development Bank 1-year bond yield at 4.30pc
SHANGHAI : China Development Bank auctioned 16 billion yuan ($2.5 billion) of one-year fixed-rate bonds in the interbank
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Market forecasts had centred around 4.25 percent and ranged from 4.20 to 4.35 percent.
The result was above Wednesday's indicative secondary market yield of 4.2089 percent bid for 1-year financial bonds issued by policy banks.
CDB also auctioned 20 billion yuan of three-year floating rate bonds at a coupon of 89 basis points over the one-year deposit rate, traders said, within market forecasts.
Traders' expectations had centred around 88 bps and ranged from 80 bps to 90 bps above the one-year deposit rate.
Copyright Reuters, 2011