China's Ministry of Finance (MOF) embraced merely 1.75 times of subscription for its 22 billion yuan 1-year fixed-rate T-bill issues Friday.
According to MOF, these T-bills were sold at 2.41 percent yield, tad lower than the 2.419 percent for comparable products on secondary market at present. Analysts attributed the pro-weak demands to relatively intensive bond supplies on Friday, which made demand for the T-bills down from that in last auction. From Oct. 23, this batch of T-bills will be allowed to trade on secondary market.
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