China's Ministry of Finance (MOF) has publicized for the first time 3-month and 6-month T-bond yields, according to an announcement posted on its website Monday.
The move, after publicizing for the first time T-bond yield curves for 1-year, 3-year, 5-year, 7-year and 10-year T-bond yields in 2014, meant to further enrich the T-bond yield curve so as to sharpen its role as a yield benchmark for bond market and even the financial market.
MOF has been working on this since 2015, by issuing once a month from the second quarter 6-month Treasury bills and once a week 3-month T-bills from the fourth quarter. In next step, it intends to further optimize T-bond term structure and issuance rhythm, market-oriented T-bond pricing mechanism and supporting mechanism for T-bond secondary market to let T-bond yield curve better reflect market demand and supply.
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