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ICBC Global Market: RMB Interest Rate Market Update - June 14, 2018

Liquidity was loosened on Wednesday. Overnight repo rates rose around 0.79 bps at 2.6427 percent, and 7-day repo rates surged around 15 bps at 3.2081 percent. Yields of cash T-bonds diverged in steadied trading. 1-year T-bonds yields added 1 bp at 3.22 percent; 5-year T-bonds inched up 1 bp to yield 3.50 percent; 10-year T-bonds fell 0.5 bps to yield 3.66 percent. Yields of financial bonds were mixed in heavy trading. 1-year bonds issued by China Development Bank were flat to yield 3.95 percent; 5-year bonds issued by the Bank remained unchanged to yield 4.36 percent; and 10-year bonds lost 0.75 bps to yield 4.4475 percent.


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