China Bond Yields Climb as PBOC Skips Rate Cut, Economy Improves
- PBOC keeps rate on medium-term loans steady for second month
- China’s benchmark 10-year bond yield rises most since Oct. 18
This article is for subscribers only.
China’s benchmark bond yield rose the most in five months as the central bank refrained from cutting its policy rate and as data showed the world’s second-largest economy had a strong start to the year.
The 10-year bond yield climbed for the first time in two days after the People’s Bank of China surprised markets by keeping the interest rate on its one-year medium-term lending facility unchanged at 2.85%. The central bank had kept the rate steady last month after cutting it for the first time in almost two years in January.