Yields on China’s benchmark 10-year bonds slipped below 2 per cent on Monday, their lowest level in 22 years as investors bet on further monetary easing to help stimulate the world’s second-largest economy.
Yields on the 10-year sovereign note, which moves inversely to prices, fell to as low as 1.9995 per cent in the morning session, their lowest level since April 2002. The 30-year note yields dropped 3.1 basis points to 2.17 per cent. Both yields rebounded slightly in the afternoon session.
Investors are betting on further cuts to rates as well as the deposits that banks must keep as reserves, analysts said.
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