May 03 2021, 4:05 AM
April 29 2021, 2:46 AM
May 03 2021, 4:05 AM
(Bloomberg)
(Bloomberg)
Fears of a selloff in Chinaâs sovereign bond market have proved wrong, with traders now bracing for the pressure to build through May.
Instead of surging higher this month, benchmark 10-year yields are comfortably below their half-year average and little changed from late March, thanks to a slowdown in debt issuance by municipal authorities.
Traders had been bracing for a seasonal increase in local bonds at a time when Chinaâs commercial banks the biggest buyers in the market typically funnel funds to clients to meet tax payments. Banks would then offload sovereign notes so they could snap up the riskier but more lucrative munis. That failed to happen in April, and thereâs now concern of a bigger liquidity crunch next month.
貴州茅台一季報增速七年新低 「頂流基金經理」重倉依舊
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貴州茅台一季報增速七年新低 117位百億基金經理繼續加持 「頂流基金經理」重倉依舊
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滬指低開0 3% 貴州茅台公佈一季報后跌超4%
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中歐基金成雨軒:以高質量成長風突圍震蕩市
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