China's Ministry of Finance (MoF) auctioned on Friday 10 billion yuan worth of 182-day discounted Treasury bills at annualized yield of 2.36 percent, which was lower than that on the secondary market.
This batch of bonds drew brisk demand from institutional investors, with the bid-to-cover ratio reaching 3.2 times, disclosed a trader.
Statistics from China Central Depository & Clearing Co. showed that the yield on the 6-month fixed interest rate T-bonds traded on the domestic interbank market stood at 2.4528 percent on the day. This is the 22nd batch of book-entry discount T-bonds auctioned by the MoF this year with the value date and circulation date on December 14 and December 18, respectively.
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