Treasury bonds sell well
By Hu Xiaocen |
July 21, 2012, Saturday
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Print Edition
Print Edition
CHINA'S latest treasury bond offering was well received in Shanghai yesterday, the first day of issuance, as investors favored the fixed-income investment despite lower returns crimped by two interest rate cuts in a month, banks said yesterday.
A manager at an outlet of the Industrial and Commercial Bank of China in Shanghai said the T-bonds sold out quickly after sales started in the morning.
A manager at one Bank of Shanghai outlet in Jing'an District said the five-year bonds sold out faster-than-expected, and only a small proportion of the three-year bonds were still available at noon.
The three-year treasury bonds annual yield dropped 0.82 percentage point from the last issuance to 4.76 percent. For five-year bonds, the yearly return fell 0.83 percentage point to 5.32 percent after the central bank lowered benchmark interest rates twice since June.
The bond rates were almost identical to current three-year and five-year deposit rates offered by banks.
A manager at an outlet of the Industrial and Commercial Bank of China in Shanghai said the T-bonds sold out quickly after sales started in the morning.
A manager at one Bank of Shanghai outlet in Jing'an District said the five-year bonds sold out faster-than-expected, and only a small proportion of the three-year bonds were still available at noon.
The three-year treasury bonds annual yield dropped 0.82 percentage point from the last issuance to 4.76 percent. For five-year bonds, the yearly return fell 0.83 percentage point to 5.32 percent after the central bank lowered benchmark interest rates twice since June.
The bond rates were almost identical to current three-year and five-year deposit rates offered by banks.
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