The Hong Kong Monetary Authority published the results of two Exchange Fund Bills tenders conducted on 21 July and announced the next round of bill issuance for 28 July. Demand exceeded supply in both completed tenders, with applications totaling HKD155.395 billion for issue Q2629 and HKD61.870 billion for issue H2658, against allotments of HKD66.356 billion and HKD12.600 billion respectively. For Q2629, issued on 22 July and maturing on 21 October 2026, the lowest accepted yield was 2.71%, the average accepted yield was 2.78%, the pro rata ratio at the highest yield accepted was about 8%, and the average tender yield was 2.81%. For H2658, issued on 22 July and maturing on 20 January 2027, the lowest accepted yield was 2.84%, the average accepted yield was 2.86%, the pro rata ratio was about 52%, and the average tender yield was 2.93%. The next tenders, to be held on 28 July 2026, cover three Exchange Fund Bills to be issued on 29 July 2026: HKD64.969 billion of 91-day bills maturing on 28 October 2026 under issue Q2630, HKD15.000 billion of 182-day bills maturing on 27 January 2027 under issue H2659, and HKD5.000 billion of 364-day bills maturing on 28 July 2027 under issue Y2692.
Hong Kong Monetary Authority2026-07-21
Hong Kong Monetary Authority reports oversubscribed Exchange Fund Bills tenders and schedules HKD84.969 billion of new issuance
The Hong Kong Monetary Authority reported that its latest Exchange Fund Bills tenders were oversubscribed, with HKD155.395 billion of applications for Q2629 and HKD61.870 billion for H2658 against allotments of HKD66.356 billion and HKD12.600 billion. Average accepted yields were 2.78% for Q2629 and 2.86% for H2658. The authority also scheduled HKD84.969 billion of new 91-day, 182-day and 364-day Exchange Fund Bills for tender on 28 July.