Bond prices on China's interbank bond market are likely to rise Wednesday amid relatively loose liquidity.
Traders noted that the liquidity condition still remained relatively loose on the whole after the central bank scaled up its 7-day reverse repos on Tuesday. The People's Bank of China, China's central bank, conducted 50 billion yuan worth of 7-day reverse repos via Tuesday's open market operations.
As 30 billion yuan worth of reverse repos are due this week, the central bank locked in a net weekly capital injection in advance. On Tuesday, ChinaBond New Composite Total Return Index, a broadly-based market sentiment indicator, added 0.0264 percent to 167.4088 points.
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