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ICBC Global Market: RMB Interest Rate Market Update - July 12, 2018

Liquidity remained eased on Wednesday. Overnight repo rates rallied around 9 bps at 2.4358 percent, and 7-day repo rates rose around 2 bps at 2.7507 percent. Yields of cash T-bonds edged down in steadied trading. 1-year T-bonds yields fell 2 bps at 3.10 percent; 5-year T-bonds dropped 2 bps to yield 3.32 percent; 10-year T-bonds slid 3.5 bps to yield 3.51 percent. Yields of financial bonds ended lower in heavy trading. 1-year bonds issued by China Development Bank shed 3 bps to yield 3.43 percent; 5-year bonds issued by the Bank slipped 3.5 bps to yield 4.055 percent; and 10-year bonds lost 3.75 bps to yield 4.245 percent.

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