China’s 50-year bond

China auctioned on Friday its first ever 50-year government bond at the low end of market expectations, mainly buoyed by demand from insurers and pension funds in the world’s fastest expanding major economy, reports Reuters. The Ministry of Finance sold Rmb20bn ($2.9bn) of the super-term bonds at a yield of 4.3 per cent, partly with the aim of adding to the Chinese government’s bond offerings as the longest maturity was previously 30 years.