China's Ministry of Finance (MOF) sold 30 billion yuan worth of 5-year T-bonds at an annual yield of 3.1097 percent on Wednesday, which was lower than that on the secondary market. According to statistics released by China Government Securities Depository Trust & Clearing Co., the inter-bank yield on 5-year fixed-rate T-bonds recently stood at 3.1765 percent.
The subscription was 1.91 times the volume offered, disclosed a trader. Traders noted that due to the currently relaxed liquidity condition, this batch of T-bond drew brisk demands from investors.
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