SHANGHAI, China — China's central bank said on Friday it has suspended treasury bond purchases, triggering a jump in yields and spurring speculation that the move was aimed at defending a falling currency.
SHANGHAI, China — China's central bank said on Friday it has suspended treasury bond purchases, triggering a jump in yields and spurring speculation that the move was aimed at defending a falling currency.The People's Bank of China cited a shortage of bonds in the market as the reason it was halting the purchases, which were part of its operations to ease monetary settings.
'The announcement also comes after warnings from the PBOC about bubble risks in a bond market where long-dated yields have hit successive record lows as investors seek safe assets in a faltering economy and prime for more monetary easing.Bond prices in China have been on a decadelong rally one that kicked into a higher gear roughly two years ago as property sector woes and weakness in the stock market triggered a flood of funds flowing into bank deposits and the debt market.
Central Bank Halts Bond Buying
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