China’s World-Beating Bond Rally May Have Run Its Course
- Limited value for China 10-year bond yield below 2.75%: ANZ
- Better entry point to buy China bonds in March: Nanjing Sec.
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For those touting Chinese sovereign bonds as the place to be for debt investors, China market watchers are warning that the best parts of a rally could already be over.
Chinese bonds have been gaining since October as the People’s Bank of China pivots toward easing, even as Treasuries lead a global rout with other major central banks normalizing pandemic-era policies. The easy gains are over, and traders are now watching if the supportive policies will revive the economy, analysts said.