ICBC is one of the earliest banks in China to sell savings T-bonds
(electronic), sitting on top of the league table since the launch of first tranche in 2006.
3 percent plunge while T-bond
yields fell over 130 basis points, inflation rose about 100 basis points, and the Fed funds rate fell 50 basis points.
Now, let's see how the support/resistance scenario has played out recently in the T-bond
Thus, the swap dealer would take the T-bond
with a maturity closest to 13.
The Roll Tracker is available for the CME 2-, 5-, and 10-year US Treasury Note, the 30-year US Treasury Bond, and the Ultra T-Bond
Since the start of the 21st century, under the combined effects of an upgrade of China s population structure, growth in residents wealth, progress in interest rate deregulation, and the development of Internet finance, the wealth of Chinese residents has expanded from bank savings and T-bonds
to diversified financial assets including wealth management, fund, insurance, T-bond
, third-party custody and precious metals, which is also well reflected in the asset structure changes of the Bank s personal customers.
Since a large majority of economic actors felt this way, the market interest rate (the two-year T-bond
yield) had fallen to under 7 percent and the exchange rate basket was quite stable.
3%, the lowest level since May while T-bond
yields are trading at record lows (3Y stands at 5.
In 2010, the ministry will focus on a "limited number" of benchmark maturities, increase the number of re-openings of securities in order to raise the target amount outstanding to around LE 10 billion per T-Bond
, increase the standardization of the debt issuance, especially for government bonds, and make the government issues predictable and transparent.
TABLE 1 Variable Descriptions Variable Sample Start Date Frequency Transformation CPI excluding energy January 1959 Monthly Log difference PPI January 1948 Monthly Log difference GDP January 1949 Quarterly Log difference Industrial production January 1948 Monthly Log difference Unemployment rate January 1950 Monthly None Federal funds rate January 1956 Monthly None 1-yr T-Bond
January 1955 Monthly None 10-yr T-Bond
January 1955 Monthly None Term spread January 1955 Monthly None Default spread January 1948 Monthly None Real M2 January 1950 Monthly Log difference M2 velocity January 1961 Quarterly None TABLE 2 One-Step-Ahead Forecasts [DELTA]WTI NOPI Variable CCS [R.
= 6-month-ahead forecast of 10-year Treasury note yield at constant maturity (% p.
1] [(Split-BBB + [Epsilon] T-Bond
+ [Delta] DefaultRate).