China Swap Rate Drops Most in Year as Bond Income Escapes Tax

Updated on
  • Policy bank bond yields, benchmark repo rates both decline
  • Further downside for bonds is limited, Citic analyst says

China’s one-year interest-rate swaps declined by the most since April 2015 after the Ministry of Finance said it won’t tax the interest income on short-term financing tools and policy bank bonds.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.