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ICBC Global Market: RMB Interest Rate Market Update - April 21, 2017

Liquidity tightened on Thursday. Overnight repo rates rose around 3 bps compared with the previous trading session to close at 2.7744 percent, and 7-day repo rates jumped around 21 bps at 3.5772 percent. Yields of cash T-bonds edged up in brisk trading. 1-year T-bonds yields rallied 7 bps at 3.10 percent; 5-year T-bonds firmed 0.5 bps to yield 3.28 percent; 10-year T-bonds added 0.5 bps to yield 3.41 percent. Yields of financial bonds turned higher in heavy trading. 1-year bonds issued by China Development Bank added 4 bps to yield 3.66 percent; 5-year bonds issued by the Bank rallied 7.5 bps to yield 4.185 percent; and 10-year bonds gained 2.6 bps to yield 4.233 percent.

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