Markets

China 5-year fin min bond yield at 2.58 pct, above forecasts

Published April 13, 2016 Updated April 13, 2016 03:46am

1 min

By Shoaib Ur Rehman

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SHANGHAI: China's Ministry of Finance auctioned 33 billion yuan ($5.11 billion) of five-year bonds in the interbank market on Wednesday at an average yield of 2.58 percent, traders said, higher than expected.

Market forecasts had centred around 2.51 percent and ranged from 2.43 to 2.58 percent.

The auction yield came in above Tuesday's benchmark secondary market yield of 2.5260 percent for five-year government bonds.

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