Interbank bond market strengthened across the board, with active bond yields for 2-7 year government bonds declining by 3-4bp.

Interbank spot bonds are strong across the board, with yields on active 2-7 year treasury bonds declining by 3-4 basis points. The yield of the 5-year ‘24 coupon-bearing government bond 14’ is down by 3.5 basis points to 1.61%, hitting a new historical low compared to the corresponding period’s ChinaBond yield data. The 10-year treasury bonds and policy bank bonds are down by around 2 basis points. ‘24 coupon-bearing government bond 11’ is at 2.005%, and ‘24 policy bank bond 15’ is at 2.076%, both hitting new lows since the end of January 2006. The 30-year ‘24 special government bond 06’ is down by 3.05 basis points to 2.172%, marking a new low since September 25th.