PBOC's Yield-Curve Control Embeds 10-Year China Treasury Targets (Jul. 22, 2024)

The People's Bank of China might be moving closer to adopting a yield-curve control policy -- one that is somewhat different from the policy that the Bank of Japan exited in March -- and this might also nail down an implicit 2.3%-2.5% target range for the 10-year China Treasury yield. The #PBOC could sell Treasury bonds, borrowed from banks, to lift yields. Stephen Chiu, Chief Asia FX and Rates Strategist at Bloomberg Intelligence, talks on Bloomberg TV.

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