China Bond Daily News 09:50 BJT
Today 230 new bonds to be listed for trading, 36 new bonds put up for tender.
1-day pledge-style T-bond on the Shanghai Stock Exchange (SSE) rose 22.5 bp to 2.88%.
PBoC says the banking system’s liquidity is at reasonably level，it will not carry out reverse repo, and no reverse repo will come due today.
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 2.2182%. 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 2.5041%.
T-bond futures opened with 10-year and 5-year contracts equal to the quoted prices.
The yields on 10-year bond ‘190215’ issued by China Development Bank was same as the day before at 3.58%.
In 2019, exchangeable bond market expanded with issuing scale outpace last year to RMB 160 bln, mainly boosted by lower valuation.
CBIRC has approved China Merchants Bank Financial Leasing to issue not more than RMB 2 bln Tier-2 capital bonds to be included in its supplementary capital. It has been nearly two years since the last financial leasing company was granted.
In the first 10 months of this year, the issuance of China local government bonds has reached RMB 4,278.65 bln. Among which, Shanghai and Shenzhen Stock Exchange issued RMB 2.77 trln, accounting for 64.8% of the local government bonds.
The 1-day inter-bank pledge-style repo declined by 8.96 bp to 2.2182%，7-day dropped by 5.54 bp to 2.5041%，14-day up 2.86 bp to 2.5691%,
PBoC announced that it has carried out its sixth round of central bank note swap (CBS) in 2019 of total amount of RMB 6 bln, with 3-month term.
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