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CBRC OMOs Combat Yield Decline

TAIWAN

Taiwan are to sell 5-Year bonds today, ahead of the auction market commentators have noted that the CBRC sold a net $14bn of CDs through OMOs. This is the highest level of sales since 2012 and has been undertaken in a bid to reduce liquidity in the system and support bond yields.

  • The 10-year currently returns 0.308%, but dropped as low as 0.24% in November which sparked fears of negative yields. CBRC Governor Yang Chin-long has said previously that negative interest rate would impact banks' profits and operations.

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