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Bond Yield Changes (Past 3 Weeks)
Comparison of yield basis point changes for sovereign bonds in China
Primary Sources
China's reflation narrative under scrutiny as bond market signals ...
Investors betting on a China reflation trade may be in for a reality check, as rising government bond prices and lacklustre equities point to lingering doubts about whether inflation in the world’s second-largest economy can be sustained.Yields on China’s one-year sovereign bonds have fallen by 5.5 basis points over the past three weeks, while 10-year yields are down 1.6 basis points. Over the same period, the benchmark CSI 300 Index has slipped about 1 per cent. Bond yields move inversely to prices but tend to track expectations for inflation and interest rates.Taken together, the moves suggest limited conviction in the reflation narrative that gained traction after February data showed faster consumer price growth and a narrowing decline in producer prices.Economists said the uptick in prices was likely driven more by higher commodity costs than a genuine recovery in demand, which remained constrained by a weak labour market and a prolonged property downturn.“The recent high-frequency data shows that there’s no obvious change of the situation in which domestic demand remains weak,” said Li Yishuang, an analyst at Huafu Securities. “If a cut in the reserve requirement ratio can be delivered, that’ll bode well for bonds, particularly the longer-dated ones.”That caution was evident on Friday, when government bonds rallied even after official data showed producer prices rose 0.5 per cent in March, snapping a 41-month deflation streak. The one-year yield fell by 2.6 basis points, while the 10-year yield edged down 0.3 basis points.
Chinese assets emerged as an unlikely bastion of stability during a ...
China has reportedly instructed banks to reduce exposure to United States government bonds. Officials cited concerns that U.S. debt levels and potential ...
Treasury yields steady as softer core CPI reinforces bets on single ...
On the short end, the 2-year yield (US2Y) stood near 3.78%, showing that markets see little immediate change in the Federal Reserve's policy stance. The 30-year ...
China Capital Markets Roundup The trading week was cut short by ...
Gains were driven by strong performance in technology shares. The Hong Kong stock market experienced a V-shaped performance this week. Gains driven by easing US ...
