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ICBC Global Market: RMB Interest Rate Market Update - September 13, 2017

Liquidity balanced on Tuesday. Overnight repo rates rose around 2 bps at 2.7018 percent, and 7-day repo rates rallied around 17 bps at 3.3272 percent. Yields of cash T-bonds diverged in brisk trading. 1-year T-bonds yields inched up 0.5 bps at 3.475 percent; 5-year T-bonds were down 0.75 bps to yield 3.5825 percent; 10-year T-bonds fell 0.5 bps to yield 3.61 percent. Yields of financial bonds were mixed in heavy trading. 1-year bonds issued by China Development Bank added 6 bps to yield 3.92 percent; 5-year bonds issued by the Bank dropped 1.25 bps to yield 4.265 percent; and 10-year bonds lost 0.5 bps to yield 4.245 percent.

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