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ICBC Global Market: RMB Interest Rate Market Update - May 17, 2018

Liquidity balanced on Wednesday. Overnight repo rates rallied around 12 bps at 2.8616 percent, and 7-day repo rates surged around 25 bps at 3.4569 percent. Yields of cash T-bonds diverged in brisk trading. 1-year T-bonds yields rose 2 bps at 3.10 percent; 5-year T-bonds remained unchanged to yield 3.41 percent; 10-year T-bonds inched down 1 bp to yield 3.70 percent. Yields of financial bonds turned lower in heavy trading. 1-year bonds issued by China Development Bank were flat to yield 3.85 percent; 5-year bonds issued by the Bank slid 0.25 bps to yield 4.395 percent; and 10-year bonds were flat to yield 4.535 percent.


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