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ICBC Global Market: RMB Interest Rate Market Update - November 14, 2017

Liquidity balanced on Monday. Overnight repo rates rallied around 9 bps at 2.9254 percent, and 7-day repo rates rose around 4 bps at 3.4417 percent. Yields of cash T-bonds edged up in brisk trading. 1-year T-bonds yields remained unchanged at 3.60 percent; 5-year T-bonds added 3.25 bps to yield 3.9350 percent; 10-year T-bonds firmed 5.75 bps to yield 3.96 percent. Yields of financial bonds turned higher in heavy trading. 1-year bonds issued by China Development Bank climbed 2 bps to yield 4.15 percent; 5-year bonds issued by the Bank advanced 5 bps to yield 4.63 percent; and 10-year bonds gained 8.75 bps to yield 4.6875 percent.

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