Export-Import Bank of China Issues 140B Yuan 1-Year Bonds at 1.3493%

The slightly above-expected coupon against a modest 2.40x bid-to-cover suggests demand for policy-bank paper is solid but not scrambling, even at yields this compressed. For RWA and tokenized-treasury watchers, the relevant signal is the pricing of short-dated Chinese sovereign-adjacent credit, which increasingly serves as a benchmark for offshore yuan-denominated yield products. Whether that bid-to-cover ratio holds or softens at the next policy-bank issuance is the open question worth tracking.