Taiwan’s 10-Year Yield at Record Low After Growth Forecast Cut

The yield on Taiwan’s benchmark 10-year bonds reached a record low after the government slashed its economic growth forecasts. The local dollar weakened, snapping a three-day advance.

Gross domestic product will increase 1.05 percent this year, compared with an earlier estimate of 1.66 percent, the statistics bureau said yesterday. The economy will expand 3.09 percent in 2013, less than a previous prediction of 3.67 percent, it said. GDP rose 1.02 percent in the third quarter, compared with the 1.50 percent projection in a Bloomberg survey, official data showed yesterday.