ChinaBond Valuation Center said the floating‑rate bond market has expanded and
market demand for reference precision has risen. It proposes two new valuations
metrics for floating‑rate bonds: valuation PV01 (rate‑basis‑point value) and
valuation spread PV01 (spread‑basis‑point value). The existing PV01 metric would
be limited to zero‑coupon, discount, interest‑at‑maturity (bullet) and
coupon‑bearing fixed‑rate bonds. The proposal is open for public consultation
under the ChinaBond yield curve and valuation principles.
