China 10Y Yield Steady After PMI Data

2026-04-30 02:50 By Czyrill Jean Coloma 1 min. read

China’s 10-year government bond yield steadied around 1.74% on Thursday, following two straight sessions of losses as investors assessed the latest PMI figures.

Official data showed China’s manufacturing PMI eased slightly to 50.3 in April 2026 from 50.4 in March, but still beat market expectations of 50.1 and remained in expansion territory for a second straight month.

A private survey painted a stronger picture, with the manufacturing PMI rising to 52.2 from 50.8, above forecasts of 51 and marking its highest level since December 2020.

The recent PMI signalled resilience in China’s industrial sector, supported by strategic petroleum reserve management and sustained investment in renewable energy amid external risks from prolonged Middle East war.

Separately, US President Trump is expected to visit China between May 14 and 15.

Reports suggest discussions may place greater emphasis on Taiwan, marking a shift from their last meeting in South Korea, where the issue was largely set aside.



News Stream
China 10Y Yield Steady After PMI Data
China’s 10-year government bond yield steadied around 1.74% on Thursday, following two straight sessions of losses as investors assessed the latest PMI figures. Official data showed China’s manufacturing PMI eased slightly to 50.3 in April 2026 from 50.4 in March, but still beat market expectations of 50.1 and remained in expansion territory for a second straight month. A private survey painted a stronger picture, with the manufacturing PMI rising to 52.2 from 50.8, above forecasts of 51 and marking its highest level since December 2020. The recent PMI signalled resilience in China’s industrial sector, supported by strategic petroleum reserve management and sustained investment in renewable energy amid external risks from prolonged Middle East war. Separately, US President Trump is expected to visit China between May 14 and 15. Reports suggest discussions may place greater emphasis on Taiwan, marking a shift from their last meeting in South Korea, where the issue was largely set aside.
2026-04-30
China 10Y Yield Extends Decline
China’s 10-year government bond yield fell to around 1.75%, extending losses from the previous session as investors sought safer assets amid persistent Middle East tensions and renewed US–China friction. Uncertainty over stalled US–Iran talks and the Strait of Hormuz, alongside reports that President Trump is dissatisfied with Iran’s latest proposal, has kept energy markets on edge and heightened inflation concerns through the oil channel. In China, producer prices rose 0.5% in March, marking its first increase since September 2022, driven by higher global commodity prices and improving domestic demand. Meanwhile, the US intensified scrutiny of China’s ties with Iran, sanctioning a major refiner and warning Chinese banks of potential secondary sanctions. Tensions further rose after Meta Platforms was blocked from acquiring AI startup Manus, reflecting Beijing’s tighter control over strategic technologies, alongside new supply chain and export compliance measures.
2026-04-29
China 10Y Yield Falls on Upbeat Data
China’s 10-year government bond yield fell to 1.76% on Tuesday, reversing a one-week high reached in the previous session, as investors digested strong economic data while remaining cautious amid ongoing Middle East tensions. Iran reportedly proposed to the US reopening the Strait of Hormuz, following stalled weekend efforts to restart talks. While earlier signs of de-escalation had triggered risk-on reactions, markets now appear more cautious, with optimism fading quickly after repeated diplomatic signals fail to deliver progress. Domestically, industrial profits rose 15.5% year-on-year in Q1 2026, from 15.2% in the January–February, highlighting the continued resilience of the industrial sector despite external risks weighing on the global outlook. Early signs of stabilisation in producer prices are also emerging after more than three years of deflationary pressure, easing cost pressures for industrial firms that have faced squeezed margins due to input cost swings and weaker demand.
2026-04-27