China 10Y Yield Steadies Near 6-Week Low

2026-04-15 04:09 By Czyrill Jean Coloma 1 min. read

China’s 10-year government bond yield held steady at around 1.78%, hovering near a six-week low, reflecting cautious market optimism amid expectations of a modest improvement in the near-term growth outlook despite persistent geopolitical risks.

The economy is projected to expand by 4.8% year-on-year in Q1 2026, slightly up from 4.5% in the previous quarter, which marked the slowest pace since the post-pandemic reopening in 2022.

The gradual improvement gives policymakers additional room to evaluate external risks, such as the ongoing Middle East conflict, before adjusting monetary or fiscal stimulus.

Meanwhile, China’s Ministry of Finance is scheduled to issue CNY 15.5 billion of government bonds in Hong Kong on April 22, marking the largest single tranche of Dim Sum bond issuance since October 2023.

The move is in line with broader efforts to expand offshore yuan bond issuance and support liquidity in offshore markets, as previously signaled by People’s Bank of China officials.



News Stream
China Eyes Biggest Offshore Yuan Bond Sale Since 2023
China plans to issue CNY 15.5 billion of sovereign bonds in Hong Kong on April 22, marking its largest offshore renminbi bond sale since October 2023 and exceeding February’s CNY 14 billion offering. The move will increase the supply of yuan-denominated assets to global investors at a time when the currency is seen as a relative haven amid the Iran war. The issuance aligns with earlier signals from policymakers to expand offshore bond supply, improve market liquidity, and strengthen Hong Kong’s role as a key renminbi hub. Although details such as maturities were not disclosed, recent offerings have seen strong demand from both foreign investors and mainland buyers through the Southbound Bond Connect channel, underscoring continued appetite for offshore yuan assets.
2026-04-15
China 10Y Yield Steadies Near 6-Week Low
China’s 10-year government bond yield held steady at around 1.78%, hovering near a six-week low, reflecting cautious market optimism amid expectations of a modest improvement in the near-term growth outlook despite persistent geopolitical risks. The economy is projected to expand by 4.8% year-on-year in Q1 2026, slightly up from 4.5% in the previous quarter, which marked the slowest pace since the post-pandemic reopening in 2022. The gradual improvement gives policymakers additional room to evaluate external risks, such as the ongoing Middle East conflict, before adjusting monetary or fiscal stimulus. Meanwhile, China’s Ministry of Finance is scheduled to issue CNY 15.5 billion of government bonds in Hong Kong on April 22, marking the largest single tranche of Dim Sum bond issuance since October 2023. The move is in line with broader efforts to expand offshore yuan bond issuance and support liquidity in offshore markets, as previously signaled by People’s Bank of China officials.
2026-04-15
China 10Y Yield Hits 6-Week Low
China’s 10-year government bond yield fell to around 1.78% on Tuesday, marking a third straight session of declines and hitting a six-week low, following weaker-than-expected trade data. Export growth slowed markedly to a five-month low of 2.5% year-on-year, reaching USD 321.03 billion, while imports surged 27.8% to USD 269.9 billion, marking the strongest pace of growth since November 2021. This resulted in the trade surplus narrowing sharply to a more than one-year low of USD 51.13 billion in March 2026 from USD 101.93 billion a year earlier and was well below expectations of USD 112 billion. Sentiment was also influenced by renewed diplomatic signals between the US and Iran. President Donald Trump said Tehran had sought a potential deal, while Iranian President Masoud Pezeshkian signaled openness to talks if they remain consistent with international law. The remarks followed earlier failed negotiations and the US blockade of the Strait of Hormuz.
2026-04-14