TREE NEWS update: China’s Ministry of Finance issued 130 billion yuan of 1-year bonds at a coupon of 1.1922%, with marginal rate at 1.2202%, versus 1.1600% expected, and a bid-to-cover ratio of 2.73 times. Separately, it sold 24 billion yuan of 20-year bonds at 2.1270%, near the 2.1200% forecast, with a bid-to-cover of 11.70 times.
China Treasury Sells 1Y Bonds at 1.1922%, 20Y at 2.127%
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