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China's anti-leverage move distorting bond market

Five-year sovereign yield now higher than that on debt due in a decade, illustrating the risk of govt's campaign
Friday, May 19, 2017 - 05:50

Shanghai

CHINA'S anti-leverage campaign is causing a distortion that hasn't happened in the nation's US$9 trillion bond market in at least a decade.

The five-year sovereign yield is now higher than that on debt due in a decade, the first time the curve has inverted for the tenor in

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