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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
CHINA RATES
China bond yields are tracking lower post the inflation misses, albeit with some carry over from weaker core yields in US trade. The chart below the generic 10yr bond yield (off a further 2bps to 2.69%), now back to mid Nov lows. As the chart highlights, yields bottomed out between 2.60/2.65% between Aug/Sep last year.
- Market speculation of potential easier policy settings in the wake of the inflation figures may be more heightened, while recent deposit cuts at major banks is also a driver of lower yields.
- 2 yr yields are sub 2.24% -1.5bps, while the 5yr is back to ~2.50%, -2.8bps so far.
Fig 1: China 10yr Bond Yield Back Close To 2022 Lows
Source: MNI - Market News/Bloomberg
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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