China One-Year Swap Rate Below 3% for First Time in 11 Months
This article is for subscribers only.
China’s one-year swap rate declined below 3 percent for the first time in 11 months as Europe’s debt crisis worsened.
The one-year swap contract, the fixed cost needed to receive the floating seven-day repurchase rate, declined 6.5 basis points to 2.985 percent as of 9:14 a.m. in Shanghai, according to data compiled by Bloomberg. That was the lowest since Dec. 7.