Short and long ends drive Rmb14bn MoF dim sum

The opposite extremes of the yield curve saw the keenest pricing in this week's Rmb14bn ($2.3bn) dim sum auction from China's ministry of finance (MoF) on Wednesday morning. But the seven and 10 year tranches were seen at or wider than secondary, reflecting an ultra-flat part of the curve that offered less interest than longer dated paper.