China Boosts Short-Term Cash Injection as Bond Selloff Extends

China’s central bank added a substantial amount of cash into the financial system on Tuesday, in a move that’s seen stabilizing bonds that have come under pressure from investors migrating into equities.

The People’s Bank of China added a net 465.7 billion yuan ($65 billion) of short-term cash via reverse repurchase agreements, the largest daily net injection since July 25 and also the third biggest this year. Yields on the benchmark 10-year bond steadied after touching the highest level since April.