ISHARESCGB-R

I.CENTURY HLDG

RIVERINE CHINA

KOS TALENT GP

CHINA CBS INTL

NATURE ENERGY T

DIGIT HOLLYWOOD

REDCO HEALTHY

ZXZN QI-HOUSE

ASIA PIONEER

HUISHENG INTL

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511130

09829

82829

82817

09817

511090

02829

On April 13th, demand for 30-year Treasury bonds surged, with funds flowing to the long end. Data shows that the yield on 30-year Treasury bonds fell to 2.31%, while the 10-year Treasury bond yield was 1.81%. Short-end rates generally rose, steepening the yield curve. Traders pointed out that funds are shifting from the medium-short end to the ultra-long end, with potential recovery space for 30-year Treasury bonds exceeding 20 basis points. Market risks need to be approached with caution

腾讯新闻 - 财经

PP CGBOND

Bosera SSE 30-Year China Treasury Bond ETF

ISHARESCGB-U

PP CGBOND-R

PP CGBOND-U

Pengyang Chinabond 30-year Treasury Bond ETF

ISHARESCGB

The entire market is scrambling for 30-year Treasury bonds, and there is still a potential recovery space of over 20 basis points at the ultra-long end

CBON

03199

83199

China’s 10-year government bond yield fell to around 1.80%, its lowest in over a month, as investors sought safer assets after failed US–Iran peace talks and President Trump’s naval blockade announcement. Amid the Middle East tensions, Chinese bonds are seen as a safe haven, bolstered by energy resilience and policy support. The yield has only risen about 3 bps recently, contrasting with larger gains in US and European bonds. Investors are now awaiting significant economic data, including trade figures and GDP.

Trading Economics

VanEck China Bond ETF

ICBCCSOP CGPB

ICBCCSOP CGPB-R

China 10Y Yield Hits Over 1-Month Low

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03420

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On April 3rd, the central bank announced the implementation of an 800 billion yuan 3-month term reverse repurchase operation, netting a withdrawal of 300 billion yuan. This operation aligns with market expectations, as the liquidity in the banking system is loose, and financial institutions' demand for central bank funds has declined. Market interest rates remain at a low of 1.2%, with the overnight rate DR001 dropping to 1.23%, setting a new low for the year. Experts point out that the decline in financial institutions' demand for liquidity and the reduction in operations are anticipated, with the 3-month term reverse repurchase primarily addressing seasonal factors

- On April 3, the central bank announced an 800 billion yuan, three-month reverse repurchase operation, achieving a net withdrawal of 300 billion yuan against an expiring amount of 1.1 trillion yuan.  
- This operation aligns with market expectations due to a sustained easing of liquidity, leading to a decline in financial institutions' demand for central bank funding, while overnight rates dropped to 1.23%.  
- Experts noted that the three-month reverse repurchase primarily addresses seasonal factors, supporting a flexible and precise monetary policy approach despite the net withdrawal this time.

A BOS RMB MM-R

A VP RMB MM

A CAM RMB MM

A CAM RMB MM-R

A BOS RMB MM

Market interest rates probe new lows for the year, with loose funds driving flexible and reduced volume of buyout reverse repurchase operations

511010

China's Ministry of Finance issued RMB 40 billion of 91-day bonds at an issue rate of 1.0375% and a marginal rate of 1.0819%, with a bid-to-cover ratio of 3.05 times; simultaneously issued RMB 175 billion of 7-year bonds at an issue rate of 1.6600% and a marginal rate of 1.6800%, with a bid-to-cover ratio of 3.42 times

Wallstreetcn

Guotai SSE 5-Year China Treasury Note ETF

03122

83122

The Financial Secretary Paul Chan stated that to align with the strategy for the internationalization of the Renminbi, the total quota for Renminbi business funding in Hong Kong has increased to RMB 200 billion, facilitating financial institutions to help enterprises and clients use Renminbi. At the same time, it will promote foreign exchange trading of Renminbi with other currencies, regularly issue Renminbi bonds of different maturities, actively expand the offshore Renminbi interest rate curve, study ways to strengthen the price discovery function of the short to medium-term interest rate market, and attract high-quality issuers to increase the issuance of Renminbi bonds in Hong Kong

AASTOCKS

A CSOP RMB MM

A CSOP RMB MM-R

Budget Proposal: Chan Mo-po: Actively expand the offshore RMB interest rate curve construction in collaboration with the industry to promote RMB internationalization

ISHARESCGB-R(82829.HK)

The entire market is scrambling for 30-year Treasury bonds, and there is still a potential recovery space of over 20 basis points at the ultra-long end

China 10Y Yield Hits Over 1-Month Low

Market interest rates probe new lows for the year, with loose funds driving flexible and reduced volume of buyout reverse repurchase operations

Budget Proposal: Chan Mo-po: Actively expand the offshore RMB interest rate curve construction in collaboration with the industry to promote RMB internationalization