China's Ministry of Finance (MOF) issued 26 billion yuan worth of 2-year T-bonds at annualized yield of 2.6457 percent on Monday.
Statistics from China Government Securities Depository Trust & Clearing Co. showed that the yield on the 2-year fixed interest rate T-bonds traded on the domestic interbank market stood at 2.6374 percent.
Market players disclosed that the subscription ratio reached 1.51 times the volume offered. Analysts noted that the domestic bond market witnessed a round of tad correction in September after undergoing a sustained rise for three consecutive months.
"The slight correction is a normal phenomenon," said Xu Hanfei, chief bond analyst with Guotai Junan Securities, adding that investors were advised to wait patiently for another round of rise rather than largely slash their positions.
This is the additional issue of the 13th batch of book-entry coupon bearing T-bonds offered by the ministry in 2015, with the value date and circulation date on June 25 and September 21 respectively.
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