China Bond Daily News 09:50 BJT
Nov 26, 2019 (China Knowledge) - Today 215 new bonds to be listed for trading, 47 new bonds put up for tender.
PBoC says the banking system’s liquidity is reasonably sufficient after hedging against the maturity of reverse repo, along with increased fiscal expenditure nearing end of Nov. Today, no reverse repo will be carried out and RMB 120 bln of reverse repo come due.
7-day pledge-style T-bond on the Shanghai Stock Exchange (SSE) maintained at 2.89%.
The opening price of 1-day inter-bank pledge-style repo (DR001) was 2.50%, and the weighted average price of the previous day at 2.2206%. The opening price of the 7-day inter-bank pledge-style repo (DR007) priced at 2.60%，and the weighted average price of previous day was 2.5252%.
T-bond futures opened mixed, with 10-year contracts remaining flat at the previous settlement price, and 5-year contracts down 0.01%.
The yields on the newly printed 10-year CBD bond ‘190215’ fell 0.25 bp to 3.5850%.
Foreign debts carry by real estate enterprises this year exceeded USD 65 bln, and financing interest rate may exceed the red-line cap of 10%.
SSE’s government bond index opened 0.01% higher at 176.37 points today.
China sets the price guidance for 3-year, 5-year, 10-year and 20-year USD bonds at +60 bp, +65 bp, +70 bp and +80 bp respectively.
Transaction price of China Three Gorges Corp’s 2018 second short-term financing bond was 2.62%, 24.09 bp higher than the valuation of Chinese bonds.
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