China's Bond Rally Hits Roadblock as Popular Trade Hands Losses [Yahoo! Finance Canada]
OVERSEAS CHINSE UNSP/ADR (OVCHY)
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Source: Yahoo! Finance Canada
Most Read from Bloomberg The yield on 30-year bonds slumped 10 basis points below the overnight interbank rate this week, the biggest discount since December 2013. Volumes in the repurchase market have also eased, signaling that borrowing money to buy sovereign bonds may no longer be attractive for investors seeking yield-based returns. China's government bonds handed investors the highest return in a decade in 2024 as concern over the economy and a dearth of local lucrative assets fanned the demand for debt. Yields have fallen further this year on worries that a global trade war will add to growth headwinds. However, delays in interest-rate cuts and other moves by authorities to cap the yuan's losses are putting a floor under borrowing costs and bond yields. “The negative carry might be a headwind for further bond purchase,” said Stephen Chiu, chief Asian foreign-exchange and rates strategist at Bloomberg Intelligence. “There could be risks of yields rebounding as current leve
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