China Sells 50-Year Bonds at Record-Low Yield as Demand Swells
- Yield on special sovereign notes was set at 2.53% at auction
- Previous sales of 20, 30 year special bonds saw strong demand
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The frenzy for Chinese bonds is showing no signs of fading, with the nation’s longest-dated special government notes receiving stronger-than-expected demand at an auction.
China sold 35 billion yuan ($4.8 billion) of 50-year special government bonds at a yield of 2.53%, according to traders. That compares with an estimate of 2.58% in a Bloomberg survey. The debt received more than five times the demand than what was on offer, said the traders who asked not to be identified as the information is private.