Markets

China finance ministry sells 7-year bond at 2.9393pc, above f'casts

Published April 20, 2016 Updated April 20, 2016 03:47am

1 min

By Shoaib Ur Rehman

Add BRecorder as a trusted
source on Google

SHANGHAI: China's Ministry of Finance auctioned 33 billion yuan ($5.10 billion) of seven-year bonds in the interbank market on Wednesday at an average yield of 2.9393 percent, traders said, higher than expected.

Market forecasts had centred around 2.86 percent and ranged from 2.80 to 2.90 percent.

The auction yield came in above Tuesday's benchmark secondary market yield of 2.8455 percent for seven-year government bonds.

For stories on Chinese debt issues, click on. ($1 = 6.4690 yuan)-Reuters

Read Comments