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ICBC Global Market: RMB Interest Rate Market Update - October 11, 2018

Liquidity remained loose balance on Wednesday. Overnight repo rates fell around 11 bps at 2.4183 percent, and 7-day repo rates retreated around 1 bp at 2.6590 percent. Yields of cash T-bonds diverged in steadied trading. 1-year T-bonds yields remained unchanged at 2.90 percent; 5-year T-bonds were flat to yield 3.41 percent; 10-year T-bonds inched up 0.25 bps to yield 3.6175 percent. Yields of financial bonds dropped slightly in stable trading. 1-year bonds issued by China Development Bank slid 0.5 bps to yield 2.97 percent; 5-year bonds issued by the Bank were down 0.75 bps to yield 3.9425 percent; and 10-year bonds lost 0.25 bps to yield 4.1825 percent.


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