China’s Debt Posts Biggest Quarterly Gain in Two Years on Easing

Chinese sovereign bonds posted the biggest quarterly increase in two years after the central bank eased monetary policy to spur economic growth.

The government notes have risen 3.9 percent since March, the most since the last three months of 2011, a Bloomberg index shows. The yield on benchmark 10-year securities fell 45 basis points to 4.05 percent this quarter through June 27, according to ChinaBond data. The yield on 4.42 percent debt due March 2024 was steady today at 4.07 percent as of 4:54 p.m. in Shanghai, National Interbank Funding Center figures show.