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10yr Yield Consolidates Post Recent Fall

CHINA RATES
  • A slow day in China bond space following the strength of recent trading sessions.
  • Having moved lower in yield for seven successive trading days, the 10yr government bond took a breather today on light volumes.
  • In a day of limited data to move markets, markets paused ahead of tomorrow’s PMI.
  • The PMI is expected to continue to show that manufacturing is in a modest contraction.

2yr 1.519% (+0.5bp) 5yr 1.882% 10yr 2.149% 30yr 2.373% (-0.5bp)

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