Bloomberg News

China One-Year Swap Rate Below 3% for First Time in 11 Months

November 09, 2011

Nov. 10 (Bloomberg) -- China’s one-year swap rate declined below 3 percent for the first time in 11 months as Europe’s debt crisis worsened.

The one-year swap contract, the fixed cost needed to receive the floating seven-day repurchase rate, declined 6.5 basis points to 2.985 percent as of 9:14 a.m. in Shanghai, according to data compiled by Bloomberg. That was the lowest since Dec. 7.

Consumer prices rose 5.5 percent in October from a year earlier, the least since May, statistics bureau data showed yesterday. A sale of Italian Treasury bills due today comes after yields on 10-year notes surged to 7.25 percent yesterday, a euro-era record.

To contact the reporter on this story: Sandy Hendry in Hong Kong at shendry@bloomberg.net

To contact the editor responsible for this story: James Regan at jregan19@bloomberg.net


Tim Cook's Reboot
LIMITED-TIME OFFER SUBSCRIBE NOW
 
blog comments powered by Disqus