China's benchmark bond and bill yields rose slightly on Friday, but the rises slowed compared with the previous two days after China's central bank raised interest rates late on Tuesday. In the money market, China's Ministry of Finance auctioned three-month government bills on Friday at a low yield, a strong indication of a continued abundance of liquidity.
The benchmark five-year government bond yield rose 23 bps to 3.0600 percent at midday on Friday from Thursday's close of 2.8300 percent, but it fell from 3.13 percent the yield hit at midday on Thursday. The 15-year yield edged up 3 bps to 3.6500 percent. The finance ministry auctioned 28 billion yuan ($4.2 billion) in three-month bills on Friday at a yield of 1.8865 percent, compared with 1.9062 percent for bills of that tenor sold on September 10.
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