Asia’s second-biggest government bond market has been on a bull run, thanks in part to speculation that the PBoC (pic) could unleash more easing after reducing the reserve requirement ratio last month. But an unexpected acceleration in inflation is complicating the picture even as regulatory crackdowns and the virus outbreak threaten to derail the economic recovery.
SHANGHAI: The rally in China’s government bonds has cooled as traders pared bets for further policy easing.
Data in the coming days may help determine if the gains are revived.
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