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China’s One-Year Bonds Decline in Sign of Tightening Liquidity

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China’s one-year sovereign bonds fell for a second day amid speculation liquidity is tightening as the central bank buys yuan to support the exchange rate.

The People’s Bank of China will likely cut lenders’ reserve requirements this week or next to replenish funds in the financial system and help arrest an economic slowdown, according to Standard Chartered Plc. The currency has been kept at about