TREE NEWS update: Inner Mongolia issued a 10-year general local government bond of 4.85328 billion yuan at a coupon rate of 1.7300%, with a bid-to-cover marginal ratio of 1.79 times against an expected 1.73 times. The region also issued a 15-year special-purpose local government bond of 751.40 million yuan at 2.0600%, with a marginal ratio of 1.24 times versus an expected 2.07 times.
Inner Mongolia Issues 4.85B Yuan 10-Year Local Government Bond at 1.73%
The pricing split is the signal: the 10-year general obligation cleared essentially at expectations with solid demand, while the 15-year special-purpose tranche drew a marginal ratio well below its expected level, suggesting weaker appetite for longer-dated, project-linked paper. For RWA and on-chain credit observers, this is a reminder that Chinese local government issuance still prices on tenor and revenue backing rather than any tokenized yield narrative. Whether that special-purpose demand gap persists across other regions' long-dated deals is the open question.
Generated by AI for reference only.
Share on WeChat
Open WeChat → Scan → then tap "…" to send to a chat or Moments.
Tap "…" in the top-right corner to send to a chat or share to Moments.