Bond markets are putting Chinese and global rates on opposite paths, speculating on cuts in China against hikes in the U.S. and prompting banks and Chinese companies to prepare for a weaker currency as Beijing rolls out more stimulus. The yuan fell past the closely-watched seven-per-dollar level last month and hasn't stopped, as China's post-pandemic economic recovery falters amid weak demand at home and abroad. This week it hit a six-month low on the dollar after surprise cuts to key China rates, putting the gap between 10-year sovereign yields in China and the U.S. at its widest since November.