China's Ministry of Finance (MOF) issued on Friday 10 billion yuan worth of 91-day discount T-bills at annualized yield of 2.1885 percent, which drew brisk demand from investors.
Statistics from China Government Securities Depository Trust & Clearing Co. showed that yield on the 3-month fixed interest rate T-bills traded on the domestic interbank market stood at 2.3266 percent. Market players disclosed that the subscription ratio reached 3.86 times the volume offered.
Analysts noted that under the see-saw effect between stocks and bonds and the improved liquidity condition, institutional investors were enthusiastic about bond allocation.
This is the 4th batch of book-entry discount T-bonds offered by the ministry in 2016, with the value date and circulation date on January 25 and January 27 respectively.
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