1-year central vote yield continues to flat rate

The central bank yesterday issued a 55 billion-yuan 1-year vote, with the bid rate at three consecutive weeks flat at 2.0929%, with a significantly 10 times-fold increase in circulation over the same period last week.　　Analysts said the increase was not expected to be strong, even though the circulation of the central vote had increased sharply.　　Industrial Bank chief economist Lu Commissar Analysis, said recently, the market capital surface has eased, 1-year central vote volume issue does not indicate that the rate hike is expected to be approaching again, according to the central bank's consistent style, the rate hike has not arrived.　　Another source pointed out that yesterday issued 55 billion yuan 1-year central vote, 90% was bought by ICBC, the total amount of about 50 billion yuan, estimated to be held with the more than 400 billion yuan bank special bills expired recently. ICBC's 2009 Annual report shows that the bank holds a special paper with a par value of 430.465 billion yuan. The bill was issued by the Central Bank in June 2005 and expires in June 2010 with a fixed annual interest rate of 1.89%.　　People familiar with the matter said that the central vote can be 5 billion yuan to see, the other 50 billion yuan as a special treatment. Industry insiders said the central bank's intention to ease liquidity, but the 1-year two market yield is still higher than the first-tier market, open market demand is still weak, if not ICBC, the current issue should not be so big. (Ching)