August 14, 2024 05:30 GMT
China: Bond Wrap
CHINA RATES
- Following several days of higher yields, the bond market grabbed hold of the drop in aggregate financing and rallied hard throughout the day.
- The focus level for authorities of 2.20% in the 10 Yr was breached with ease today as bonds across the curve rallied 1-5bps
- Suggestions that market traders are finding ways to circumvent the crack down on government bond trading show the demand for bonds remains.
- Tomorrow sees significant data releases with both retail sales and industrial production providing further insight into the pace of slowdown in China.
2yr 1.592% (-1bp) 5yr 1.85% (-1.5bp) 10yr 2.16% (-4.5bp) 30yr 2.35% (-1.5bp)
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