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ICBC Global Market: RMB Interest Rate Market Update - May 19, 2017

Liquidity balanced on Thursday. Overnight repo rates rose around 2 bps at 2.8111 percent, and 7-day repo rates advanced 4 bps at 3.2467 percent. Yields of cash T-bonds edged down in brisk trading. 1-year T-bonds yields remained unchanged at 3.47 percent; 5-year T-bonds fell 1.5 bps to yield 3.645 percent; 10-year T-bonds dropped 2 bps to yield 3.60 percent. Yields of financial bonds turned lower in heavy trading. 1-year bonds issued by China Development Bank remained unchanged to yield 4.03 percent; 5-year bonds issued by the Bank slipped 1.5 bps to yield 4.325 percent; and 10-year bonds lost 2 bps to yield 4.305 percent.

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