China, US bond markets diverge as Warsh strikes hawkish tone at Jackson Hole
The divergence of the bond markets in China and the US risks widening further, as economic data releases from the world’s second-largest economy remained underwhelming and Federal Reserve chairman Kevin Warsh’s hawkish tone and concerns about fiscal sustainability add to the headwinds for Treasuries.
The yield on China’s 10-year government bond traded at 1.692 per cent on Monday, approaching its lowest rate in a year after a set of economic figures from July trailed analysts’ estimates....
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