Yields on One-year Bills ClimbThe yield on the Chinese central bank's one-year bills rose by nearly 10 basis points at an auction on Tuesday, extending the gap between the yield on one-year bills and the official one-year deposit rate to approximately 25 basis points. On Tuesday, the People's Bank of China auctioned 2 billion yuan of one-year bills in its open market operations at a yield of 3.4982 percent, up 9.63 basis points from last week. This is almost 25 basis point higher than the yield on one-year deposits, which the central bank lifted to 3.25% on Apr 6.
Source
China Securities Journal

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