China’s government bonds extend record run driven by a safe asset shortage, rate cut hopes

Quick Summary:

The yield on 10-year Chinese government bonds dropped to a record low of 2.124 per cent, as the country’s lower-than-expected economic growth in the second quarter and a protracted property crisis drove investors to haven trades.

Expectations about further monetary easing have been swirling after a Politburo meeting chaired by Party chief Xi Jinping this week hinted at more policy support.

Still, the stellar run in government bonds may face headwinds going forward, as the government plans to boost supplies to cool the rally.

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Article Details

Author / Journalist: Zhang Shidong

Category: Business

Markets: Hong KongChinaJapanOman

Topics: Bond Policy Bonds Rally Market Government Central Growth Bank Yield Rate

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-08-02 @ 17:30:37 (2 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 661 words

Reading Time: 4 minutes read

Sentences: 19 lines

Sentence Length: 35 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 21896716

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