Chinese Government Bond Market Enters Late Bull Phase, Says Guang Fa Securities; 10Y Yield Target 1.70% on May 25

GateNews
According to Guang Fa Securities research on May 25, China's bond market has entered a late phase of a bull run amid low interest rates, ample liquidity, and debt restructuring efforts. The spread compression has limited upside potential. The brokerage targets yields of 1.70% for 10-year government bonds and 2.15% for 30-year bonds, while noting short-term trading opportunities remain available on fiscal and economic headwinds.
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