PBOC Sets Up Swap Facility for Large Non-Bank Redemptions; September Interbank Bond Repo Daily Turnover Falls 10.6% Year on Year
The People's Bank of China has set up a swap facility for large non-bank redemptions in the bond market. The central bank also reported that average daily interbank bond repo turnover was 6.5 trillion yuan in September, down 10.6% from a year earlier. Separately, Morgan Asset Management expects US Treasury returns of 7%-8% over the next 12 months; Poly Developments plans to issue 2 billion yuan of 2026 second-tranche medium-term notes; and Agricultural Bank of China issued 20 billion yuan of special financial bonds for agriculture, rural areas and farmers, the largest such issuance this year.



