{"id":20746,"date":"2024-04-26T14:30:47","date_gmt":"2024-04-26T13:30:47","guid":{"rendered":"https:\/\/latribune.lazardfreresgestion.fr\/?p=20746"},"modified":"2024-04-26T14:30:47","modified_gmt":"2024-04-26T13:30:47","slug":"china-low-bond-yields-buck-the-global-trend","status":"publish","type":"post","link":"https:\/\/latribune.lazardfreresgestion.fr\/en\/china-low-bond-yields-buck-the-global-trend\/","title":{"rendered":"China: Low Bond Yields Buck The Global Trend"},"content":{"rendered":"<h2>Chart of the Week<\/h2>\n<p>Long-term government bond yields are rising across the globe except in China, where declines since the start of the year have led to all-time lows. Having slipped below 2.30%, China\u2019s 10-year government bond yield is in a unique position as it now sits below the trough reached in spring 2020.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-20747 \" src=\"https:\/\/latribune.lazardfreresgestion.fr\/wp-content\/uploads\/2024\/04\/Capture-26-04-2024EN-300x144.jpg\" alt=\"\" width=\"831\" height=\"399\" srcset=\"https:\/\/latribune.lazardfreresgestion.fr\/wp-content\/uploads\/2024\/04\/Capture-26-04-2024EN-300x144.jpg 300w, https:\/\/latribune.lazardfreresgestion.fr\/wp-content\/uploads\/2024\/04\/Capture-26-04-2024EN-768x368.jpg 768w, https:\/\/latribune.lazardfreresgestion.fr\/wp-content\/uploads\/2024\/04\/Capture-26-04-2024EN.jpg 984w\" sizes=\"auto, (max-width: 831px) 100vw, 831px\" \/><\/p>\n<h3><b>OUR <\/b><b>ANALYSIS<\/b><\/h3>\n<p>The widening yield gap between China and the rest of the world, not least the US, could put downward pressure on its currency, especially as capital inflows fall off significantly.<\/p>\n<p>While low Chinese yields contrast with solid first-quarter growth of 5.3% (year on year), China\u2019s inflation rate remains close to zero and significant challenges in the property sector are hampering its growth outlook. The situation underscores how isolated China\u2019s financial system is from the rest of the world and how little it is affected by global finance.<\/p>\n<p>This tendency to buck global trends heightens the need to closely monitor the Chinese economy.<\/p>\n<p>***<\/p>\n<p>Written on April 26, 2024. This is not an investment advice. Opinions subject to change.<\/p>\n<p>See also: <a href=\"https:\/\/latribune.lazardfreresgestion.fr\/en\/europe-and-us-policy-paths-to-diverge\/\">https:\/\/latribune.lazardfreresgestion.fr\/en\/europe-and-us-policy-paths-to-diverge\/<\/a><\/p>\n<p>***<\/p>\n<p>This document is not pre-contractual or contractual in nature. It is provided for information purposes. The analyses and descriptions contained in this document shall not be interpreted as being advice or recommendations on the part of Lazard Fr\u00e8res Gestion SAS. This document does not constitute an offer or invitation to purchase or sell, nor an encouragement to invest. This document is the intellectual property of Lazard Fr\u00e8res Gestion SAS. LAZARD FRERES GESTION \u2013 a simplified joint stock company with share capital of \u20ac14,487,500 \u2013 Paris Trade and Companies Registry No. 352 213 599. 25, RUE DE COURCELLES \u2013 75008 PARIS, FRANCE<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Chart of the Week Long-term government bond yields are rising across the globe except in China, where declines since the&hellip; <\/p>\n","protected":false},"author":101016,"featured_media":20392,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[148],"tags":[1980,2011,2668],"class_list":["post-20746","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-chart-of-the-week","tag-china-en","tag-growth","tag-rate"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>China: Low Bond Yields Buck The Global 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