农发行发行10年期债券，规模160亿元，发行利率1.7888%，预期1.8000%，投标倍数3.76倍，边际倍数 1.13倍。 农发行发行392天期债券，规模150亿元，发行利率1.3695%，预期1.3700%，投标倍数2.54倍，边际倍数 1.27倍； 农发行发行3年期债券，规模20亿元，发行利率1.6649%，预期1.6500%，投标倍数3.26倍，边际倍数 2.67倍； ...

农发行发行392天期债券，规模150亿元，发行利率1.3684%，预期1.3700%，投标倍数2.72倍，边际倍数 10.97倍； 农发行发行10年期债券，规模160亿元，发行利率1.7526%，预期1.7400%，投标倍数3.18倍，边际倍数 5.18倍。 农发行发行3年期债券，规模20亿元，发行利率1.6534%，预期1.6500%，投标倍数5.41倍，边际倍数 5.00倍； ...

Group 1 - The China Development Bank (CDB) issued a 1-year bond with a scale of 6 billion yuan, an issuance rate of 1.3838%, and a bid-to-cover ratio of 2.92 times [1] - The CDB issued a 5-year bond with a scale of 11 billion yuan, an issuance rate of 1.5564%, and a bid-to-cover ratio of 2.71 times [1] - The CDB issued a 10-year bond with a scale of 21 billion yuan, an issuance rate of 1.6790%, and a bid-to-cover ratio of 2.74 times [1] Group 2 - The expected issuance rate for the 1-year bond was 1.4000%, while the actual rate was lower [1] - The expected issuance rate for the 5-year bond was 1.5300%, with the actual rate being slightly higher [1] - The expected issuance rate for the 10-year bond was 1.6700%, with the actual rate being marginally higher [1] Group 3 - The marginal bid-to-cover ratio for the 1-year bond was 1.79 times [1] - The marginal bid-to-cover ratio for the 5-year bond was 3.83 times [1] - The marginal bid-to-cover ratio for the 10-year bond was 13.22 times [1]

Core Viewpoint - Agricultural Development Bank issued 3-year bonds totaling 2 billion with an issuance rate of 1.6524%, slightly below the expected 1.6500%, and received a bid-to-cover ratio of 5.06 times, with a marginal bid-to-cover ratio of 4.64 times [1] Group 1 - Agricultural Development Bank issued 10-year bonds totaling 16 billion with an issuance rate of 1.7389%, close to the expected 1.7400%, and achieved a bid-to-cover ratio of 3.72 times, with a marginal bid-to-cover ratio of 1.90 times [1]

Group 1 - The Ministry of Finance of China issued a 7-year bond with a scale of 109 billion, an issuance rate of 1.5302%, and a marginal rate of 1.5573%, with expectations of 1.5600% [1] - The bidding multiple for the 7-year bond was 4.22 times, and the marginal multiple was 13.84 times [1] - Additionally, a 10-year bond was issued with a scale of 131 billion, an issuance rate of 1.6188%, and a marginal rate of 1.6342%, with expectations of 1.6300% [1] - The bidding multiple for the 10-year bond was 5.04 times, and the marginal multiple was 6.91 times [1]

Group 1 - Agricultural Development Bank issued a 392-day bond with a scale of 15 billion yuan and an issuance rate of 1.3513%, compared to an expected rate of 1.3900%, with a bid-to-cover ratio of 2.58 times and a marginal ratio of 20.21 times [1] - Agricultural Development Bank issued a 3-year bond with a scale of 2 billion yuan and an issuance rate of 1.6501%, compared to an expected rate of 1.6600%, with a bid-to-cover ratio of 4.07 times and a marginal ratio of 2.20 times [1] - Agricultural Development Bank issued a 10-year bond with a scale of 16 billion yuan and an issuance rate of 1.7352%, compared to an expected rate of 1.7400%, with a bid-to-cover ratio of 3.24 times and a marginal ratio of 3.65 times [1]

Group 1 - The China Development Bank (CDB) issued a 2-year bond with a scale of 5 billion yuan and an issuance rate of 1.4689%, exceeding the expected rate of 1.4600%, with a bid-to-cover ratio of 3.46 times [1] - The CDB issued a 3-year bond with a scale of 5 billion yuan and an issuance rate of 1.6313%, higher than the expected rate of 1.6000%, with a bid-to-cover ratio of 2.54 times and a marginal ratio of 1.01 times [1] - The CDB issued a 5-year bond with a scale of 11 billion yuan and an issuance rate of 1.5230%, slightly above the expected rate of 1.5200%, with a bid-to-cover ratio of 2.82 times [1] - The CDB issued a 10-year bond with a scale of 21 billion yuan and an issuance rate of 1.6569%, also above the expected rate of 1.6500%, with a bid-to-cover ratio of 2.26 times and a marginal ratio of 2.64 times [1]

农发行发行10年期债券，规模160亿元，发行利率1.7537%，预期1.7500%，投标倍数2.85倍，边际倍数 3.10倍。 ...

Group 1 - The Ministry of Finance of China issued 2-year bonds with a scale of 170 billion, an issuance rate of 1.3800%, and a marginal rate of 1.4000% [1] - The bidding multiple for the 2-year bonds was 3.27 times, while the marginal multiple was 2.06 times [1] - The Ministry of Finance also issued 10-year bonds with a scale of 170 billion, an issuance rate of 1.6260%, and a marginal rate of 1.6426% [1] Group 2 - The bidding multiple for the 10-year bonds was 4.43 times, and the marginal multiple was 8.82 times [1] - The expected marginal rate for the 2-year bonds was 1.4000%, while for the 10-year bonds it was 1.6400% [1]

Group 1 - The Agricultural Development Bank issued a 3-year bond with a scale of 2 billion yuan and an issuance rate of 1.7009%, which was lower than the expected rate of 1.6900%, with a bid-to-cover ratio of 3.30 times and a marginal ratio of 4.12 times [1] - The Agricultural Development Bank also issued a 10-year bond with a scale of 14 billion yuan and an issuance rate of 1.7662%, which was slightly lower than the expected rate of 1.7800%, with a bid-to-cover ratio of 3.20 times and a marginal ratio of 3.70 times [1]