China Bond Daily News 09:50 BJT
Jan 10, 2020 (China Knowledge) - Today 128 new bonds to be listed for trading, 56 new bonds put up for tender.
T-bond futures opened with 10-year contracts down by 0.02% and 5-year contracts down by 0.02%.
The yields on 10-year bond ‘190215’ issued by CDB rose 0.25bp to 3.5675%.
14-day pledge-style T-bond on the Shanghai Stock Exchange (SSE) rose 15.5 bp to 2.9150%.
PBoC says the banking system’s liquidity is at a reasonably high level, it will not carry out reverse repo, and no reverse repo will come due today.
The 1-day pledged repo (DR001) at the depository opened at 2.50%, and the weighted average price of the previous day was 1.6771%. The 7-day pledged repo (DR007) at the depository opened at 2.60%, and the weighted average price was 2.2544% the previous day.
China's bonds held by overseas Institutional Investor has exceeded RMB 2 trln. The three major factors of steady openness, attractive spreads, and a strong exchange rate are the main reasons for foreign investment to continuously increase their RMB bond holdings. In 2020, foreign investment in RMB bonds is expected to continue to increase.
As at the end of 2019, a total of 2,608 foreign institutional investors had participated the inter-bank bond market, taking up 2.6% of the transaction volume. Among them, RMB 3.2 trln worth of bonds were bought, RMB 2.1 trln sold, resulting in a net purchase of RMB 1.1 trln, which exceeded the trillion RMB mark for the first time.
The Ministry of Finance announced RMB 10 bln tender for 91-day discount T-bond, and interest will begin on Jan 13. The listing to trade will start on Jan 15.
China Chengxin Intn’l Credit Rating Co has given AA credit rating to Dongying Bank, the rating defines stable outlook for the bank.
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