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ICBC Global Market: RMB Interest Rate Market Update - March 13, 2018

Liquidity balanced on Monday. Overnight repo rates rose around 4 bps at 2.6544 percent, and 7-day repo rates rallied around 8 bps at 3.0477 percent. Yields of cash T-bonds diverged in steadied trading. 1-year T-bonds yields remained unchanged at 3.28 percent; 5-year T-bonds were flat to yield 3.67 percent; 10-year T-bonds were also flat to yield 3.83 percent. Yields of financial bonds turned higher in heavy trading. 1-year bonds issued by China Development Bank were flat to yield 4.18 percent; 5-year bonds issued by the Bank inched up 1 bp to yield 4.775 percent; and 10-year bonds gained 1.5 bps to yield 4.875 percent.


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