China Bill Market Rates Rise 11 Basis Points to 0.72% on May 28-29, Ending Historic Lows

According to Jin10, China's bill market rates rebounded on May 28-29 after hitting historic lows in May, with the November-maturity state-owned bank bill reverse repurchase rate rising 11 basis points to 0.72%. The rebound followed strong bank demand for bills, reversing earlier weakness driven by tepid financing demand and ample market liquidity.

On June 1, the rate opened unchanged at 0.72%. Market analysts expect liquidity to remain moderately ample across the month-end period, with bill rates likely settling at a new equilibrium amid supply-demand dynamics.