China's Ministry of Finance (MOF) issued on Wednesday 28 billion yuan worth of 3-year T-bonds at annualized yield of 2.7961 percent. Statistics from China Government Securities Depository Trust & Clearing Co. showed that yield on the 3-year fixed-rate T-bonds traded on the domestic interbank market stood at 2.8455 percent.
Market players disclosed that the subscription ratio reached 2.16 times the volume offered. Traders noted that this batch of bond drew brisk demand, as investors are keen to rush into local bond market to seek safe heaven. This batch of T-bonds is the sequel for the 22nd one of its kind offered by the ministry this year.
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