The Agricultural Development Bank of China (ADBC) issued three batches of financial bonds on Monday. The three batches of bonds bear a respective maturity of 2 years, 5 years and 10 years, with yields standing at 3.1556 percent, 3.5072 percent and 3.7808 percent respectively.
According to statistics released by China Government Securities Depository Trust & Clearing Co., the recent inter-bank yield on 2-, 5-, and 10-year fixed-rate financial bonds was 3.0341 percent, 3.4293 percent and 3.6735 percent, respectively.
The subscription ratio for these three batches of bonds reached 2.50, 2.74 and 3.25 times the volumes offered. Due to the coming of resumption of initial public offerings (IPOs) last week and expectations of a U.S. interest rate hike, bond market was expected to see some correction in the future, traders said. Besides, investors are still advised to remain cautious about bond trading.
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