The Agricultural Development Bank of China (ADBC) auctioned 20 billion yuan worth of 1-, 3-, and 5-year fixed-rate financial bonds on Monday, with the yields standing at 2.765 percent, 3.678 percent and 3.891 percent respectively.
According to statistics released by China Government Securities Depository Trust & Clearing Co., the recent inter-bank yield on 1-, 3-, and 5-year fixed-rate financial bonds was 2.736 percent, 3.703 percent and 3.884 percent, respectively.
These three batches of bonds drew plain demand from investors, with the subscription ratios at 1.8, 2.03 and 2.55 times the volumes offered. Due to rising supply pressure of interest rate-linked products and a flood of initial public offerings (IPOs), investors are still advised to remain cautious about bond trading.
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