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MOF To Sell 30-Year Bonds

CHINA RATES

China's MOF is to sell CNY 40bn of 30-year upsized bonds today, results due after 0235GMT/1035CST

  • The MOF previously sold 30-year debt on 13 November 2020 at an average yield of 3.9087%, bid-to-cover ratio was 2.44, and the marginal cover at the highest yield was 2.67
  • Yields have risen up the belly today after a smaller than expected MLF operation from the PBOC. 30-year yields down some 1.2bps though in some concession to the auction, the sector is some 23bps richer compared to the previous auction.

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