Jilin issues 10-30 year local government special bonds at yields of 1.65%-2.21%

The striking detail here is the demand, not the pricing: bid-to-cover reaching into double digits on the longest tranche suggests yield-hungry buyers are absorbing duration that would normally demand a premium. That appetite at the provincial level matters for anyone tracking whether cheap long-dated government funding keeps crowding into quasi-sovereign credit. Whether such strong cover ratios persist across weaker issuers, and how the 30-year yields settle relative to the shorter tranches, is the open question worth watching.