China government bond yields hit new low despite PBOC intervention

10-year rate falls below level that triggered fresh warnings over bubble

20240911 pboc

The headquarters of the People's Bank of China in Beijing. © Reuters

WATARU SUZUKI and ECHO WONG, Nikkei staff writers

SHANGHAI/HONG KONG -- Chinese long-term government bond yields hit a fresh low on Wednesday, underscoring strong investor appetite for safe assets even as the central bank intervenes to tamp down what it considers a bubble.

The yield, which moves inversely to price, on the 10-year treasury bond fell 0.0142 percentage points to 2.1056%, according to data provider Wind. That is the lowest level since at least 2015, the starting point for comparable data.

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