Free Trial

PBOC May Have Purchased Govt Bonds in July: Citic

CHINA PRESS
MNI (Sydney)

The PBOC may have purchased China Government Bonds in July as data showed that CGBs held by "other entities" increased by CNY196.5 billion, about 10 times the previous record gain, Ming Ming, the chief fixed-income analyst with Citic Securities, said in a note. This move by the central bank eases market concerns about the increasing supply of government bonds in H2 as the PBOC has marginally tightened its monetary policy toward normalcy, said Ming, a former central bank official. The yield to maturity of 10-year CGBs will approach the lower range of 2.8% to 3%, Ming said.

MNI Sydney Bureau | +61-405-322-399 | lachlan.colquhoun.ext@marketnews.com
MNI Sydney Bureau | +61-405-322-399 | lachlan.colquhoun.ext@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.