China 10Y Yield Rises After PMI Data

2026-06-30 02:45 By Czyrill Jean Coloma 1 min. read

China's 10-year government bond yield rose to around 1.72% on Tuesday, rebounding from a near one-month low in the previous session as stronger-than-expected PMI data eased concerns about the country's economic outlook, reducing demand for safe-haven assets.

China's Composite PMI edged up to a six-month high of 50.6 in June from 50.5 in the previous month.

Manufacturing PMI rose to 50.3 from 50.0, surpassing forecasts of 50.1, supported by resilient demand for high-tech exports that helped offset trade disruptions stemming from tensions in the Middle East.

Meanwhile, the non-manufacturing PMI ticked up to 50.2 from 50.1, beating expectations of 49.9 and pointing to continued stabilization in the sector.

On the monetary policy front, the central bank launched overnight reverse repo operations, injecting CNY 300 billion into the financial system to strengthen short-term liquidity management and enhance stability in money markets.



News Stream
China 10Y Yield Rises After PMI Data
China's 10-year government bond yield rose to around 1.72% on Tuesday, rebounding from a near one-month low in the previous session as stronger-than-expected PMI data eased concerns about the country's economic outlook, reducing demand for safe-haven assets. China's Composite PMI edged up to a six-month high of 50.6 in June from 50.5 in the previous month. Manufacturing PMI rose to 50.3 from 50.0, surpassing forecasts of 50.1, supported by resilient demand for high-tech exports that helped offset trade disruptions stemming from tensions in the Middle East. Meanwhile, the non-manufacturing PMI ticked up to 50.2 from 50.1, beating expectations of 49.9 and pointing to continued stabilization in the sector. On the monetary policy front, the central bank launched overnight reverse repo operations, injecting CNY 300 billion into the financial system to strengthen short-term liquidity management and enhance stability in money markets.
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China's 10-year government bond yield fell to around 1.71% on Monday, its lowest level in a month, as newly announced liquidity-support measures strengthened expectations that Beijing will maintain an accommodative monetary policy stance. The People's Bank of China introduced overnight reverse repo operations, offering CNY 300 billion to financial institutions in a move aimed at enhancing short-term liquidity management and improving stability in interbank funding markets. The measure follows remarks by Governor Pan Gongsheng at the Lujiazui Forum, where he signaled plans to expand the central bank’s liquidity management toolkit. Separately, the PBoC injected CNY 157.5 billion through seven-day reverse repos while leaving the borrowing cost unchanged at a record-low 1.4%. On the economic front, investors are awaiting PMI data due later this week for fresh insights into the health of the world's second-largest economy.
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