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china-flagSHANGHAI: China's Ministry of Finance auctioned 26 billion yuan ($4.15 billion) of 1-year bills in the interbank market on Wednesday at an average yield of 2.94 percent, traders said, higher than expected.

 

Market forecasts had centred around 2.77 percent and ranged from 2.70 to 2.85 percent.

 

The auction yield came in above Tuesday's indicative secondary market bid yield of 2.8000 percent for one-year government bills.

 

Copyright Reuters, 2012

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