Bond prices on China's interbank bond market are likely to correct Friday amid investors' wait-and-see sentiment.
Traders noted that investors chose to sit on the sidelines, as they feel uncertain about bond market outlook under the influence of mixed factors. The relatively loose liquidity condition is favorable to bonds, while the steady economic recovery weighs on bonds.
The People's Bank of China, China's central bank, conducted 35 billion yuan worth of 7-day reverse repos at a yield of 2.50 percent in Thursday's open market operation. On Thursday, ChinaBond New Composite Total Return Index, a broadly-based market sentiment indicator, crept down 0.0329 percent to 162.8845 points.
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