China's 10-Year Bond Yield Drops to 2009 Low as Growth Subdued
- An improvement in the economy may not occur anytime soon: SWS
- One-month Shibor jumps most since August on rising cash demand
This article is for subscribers only.
China’s 10-year sovereign bond yield fell to the lowest level since 2009 on speculation policy makers will take more steps to spur growth in the world’s second-largest economy.
Economic conditions deteriorated across the board in the fourth quarter, according to a private survey from a New York-based research group. The People’s Bank of China cut its forecast for 2015 expansion to 6.9 percent from 7 percent this week even as November data on industrial production, retail sales and fixed-asset investment showed signs of stabilization. The PBOC will lower benchmark interest rates once more before the end of the next year, according to a Bloomberg survey.