Hong Kong’s Silver Bonds draw record 480,000 bids with higher interest rate

Hong Kong is expected to raise the final issuance to the upper limit of HK$55 billion, as applications from elderly investors have surged Investors submitted 478,000 bids for HK$119.8 billion (US$15.28 billion) worth of bonds during the offering period, which ended at 2pm on Friday, according to a government spokesman. In light of the strong demand, the government is expected to raise the final issuance to the upper limit of HK$55 billion, from the original HK$50 billion, according to the spokesman. The Hong Kong Monetary Authority will announce the final allotment results on September 11, with the bonds set to be issued on September 15. About 60 per cent of traders expected the Fed to implement a 0.25 percentage point rate increase as of Thursday, while 40 per cent expected no rate change, according to data from CME FedWatch, which is based on Fed funds futures contracts.

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