Yield on 10-year govt bonds surges to two-week high

China Daily (Canada) - - BUSINESS -

The coun­try’s 10-year gov­ern­ment bonds fell for a fourth day, push­ing the yield to a two-week high, on signs some in­vestors are switch­ing to stocks. The yield on the notes due Septem­ber 2024 rose four ba­sis points to 3.68 per­cent in Shang­hai, the high­est level since Nov 21, data from the Na­tional In­ter­bank Fund­ing Cen­ter show. The yield has in­creased 17 ba­sis points, or 0.17 per­cent­age point, this week. “Bonds are un­der sell­ing pres­sure partly be­cause funds are di­verted to the boom­ing stock mar­ket,” said Frank Sun, a Shang­hai-based an­a­lyst at Shang­hai CFETS-ICAP In­ter­na­tion­alMoney Broking Co. “In­ter­bank liq­uid­ity con­tin­ued to im­prove.”

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