High Chinese bond demand affects yuan liquidity

The Chinese bond market witnessed a record-breaking influx of institutional investors from Hong Kong, with the Ministry of Finance issuing sovereign bonds worth 15 billion yuan ($2.2 billion). The offering achieved a coverage ratio of over 3.86 times for maturities ranging from two to ten years. This increase led to higher borrowing costs for the yuan, with short-term bond yields reaching a historic low of 1.29%. These issuances are considered one of the factors influencing the balance of external liquidity and financing costs in the city's financial market.

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