The Agricultural Development Bank of China (ADBC) auctioned 3-tranche fixed-rate financial bonds, namely 1-, 3- , and 5-year bonds on Wednesday, with the yields standing at 2.779 percent, 3.4792 percent and 3.726 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 2.8998 percent, 3.5404 percent and 3.8228 percent, respectively.
These three batches of bonds drew strong demand from investors, with the subscription ratios at 2.58, 10.64 and 1.4. Analysts noted that due to investors' risk-aversion sentiment, funds flowed back into the bond market, which improved the relationship between bond supply and demand.
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