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China's bond market may continue to.....>

CHINA PRESS
CHINA PRESS: China's bond market may continue to tumble if the upcoming reserve
requirement ratio cut fails to stimulate and if a large number of new local
government special bonds disrupt the market, the China Securities Journal
reports citing analyst interviews. The Journal also cites Zhou Guannan, the
chief fixed income analyst at Huachuang Securities who said that while the
scheduled RRR cut next Monday is in line with market expectations, the market
had already reacted to it in advance. The article also quoted a CICC report
which said that the issuance of special bonds could reach as much as CNY700
billion to 800 billion in January. 

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