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

The latest round of the Hong Kong government’s Silver Bonds programme has attracted a record number of subscriptions in terms of both quantity and value, as the city’s elderly investors seize the opportunity to secure better returns than those offered by bank deposits. 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. That represented a 22 per cent rise in terms of...