China’s Bonds See Worst Slide This Year as Rate-Cut Doubts Grow
- Benchmark 10-year yield set for biggest rise since September
- PBOC signaled uncertainty over timing of further rate cuts
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China’s benchmark sovereign bond yield jumped the most this year as the central bank sowed doubts over further interest-rate cuts and a stock rally lured investors away from government debt.
Yields on China’s 10-year government bonds gained six basis points on Friday to 1.83%, set for the biggest rise since September. Poor demand for debt also spilled over to a bond auction, where a one-year note was sold at the highest yield since April 2024.