China’s First Special Bond Sale Likely to See Solid Demand
- Beijing to auction 30-year ultra-long debt on Friday
- China selling 1 trillion yuan of special debt to fund stimulus
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China’s first issuance of this year’s special sovereign bonds on Friday is expected to see solid demand, according to strategists and gauges of sentiment in the bond market.
Thirty-year yields are broadly unchanged since the Finance Ministry released its plan Monday to sell 1 trillion yuan ($139 billion) of ultra-long debt over a time span of about six months, beginning with a 40 billion yuan auction of that maturity. And interest-rate swaps, an indicator of expectations for short-term borrowing costs, briefly touched a four-year low onshore.