China Development Bank (CDB) issued five batches of bonds amid brisk demands on Tuesday.
The five batches of bonds bear a maturity of 1 year, 3 years, 5 years, 7 years and 10 years, with the auction yields standing at 2.49 percent, 2.98 percent, 3.1577 percent, 3.405 percent and 3.3458 percent respectively.
Statistics from China Government Securities Depository Trust & Clearing Co. showed that yields on the 1-year, 3-year, 5-year, 7-year and 10-year fixed interest rate policy bank bonds traded on the domestic interbank market stood at 2.64 percent, 3.12 percent, 3.29 percent, 3.53 percent and 3.44 percent respectively.
Traders noted that due to the country's weak economy and lower funding costs, there is still room for substantial decline in bond yields. The five batches of bonds are the fresh issue of 22nd and 23rd and an additional issue of the 20th, 21st and 18th batches of bonds offered by the bank this year.
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