China bond yield sinks to 7-year low as foreign inflows rise
Hong Kong
CHINESE bonds advanced, with the 10-year yield dropping to match the lowest levels since 2009, as foreign inflows increase and investors seek safety from a rising number of corporate failures.
The yield on sovereign notes due 2026 fell three basis points to 2.72 per cent as of 4:54pm in Shanghai on Tuesday. That level, the least in seven years for a benchmark 10-year security, was last seen this January when a series of cuts to the yuan's fixing ignited volatility around the world. The one-year yield declined one basis point to 2.18 per cent, the lowest since April.
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