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ICBC Global Market: RMB Interest Rate Market Update - November 1, 2018

Liquidity remained tightened on Wednesday. Overnight repo rates surged around 96 bps at 2.5389 percent, and 7-day repo rates jumped around 28 bps at 2.8998 percent. Yields of cash T-bonds were mixed in steadied trading. 1-year T-bonds yields remained unchanged at 2.80 percent; 5-year T-bonds were flat to yield 3.31 percent; 10-year T-bonds fell 1.25 bps to yield 3.5075 percent. Yields of financial bonds diverged in stabilized trading. 1-year bonds issued by China Development Bank rose 2 bps to yield 2.88 percent; 5-year bonds issued by the Bank were flat to yield 3.79 percent; and 10-year bonds were also flat to yield 4.0775 percent.


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