Did China's Bond Market Just Do the Central Bank's Job for It?

China could hold off on rate cuts thanks to record low Treasury yields.

The Chinese central bank could hold off on interest rate cuts that were flagged at the end of last year, as part of Beijing’s ambitious macroeconomic stimulus package for 2025.

This is because a recent drop in Chinese Treasury yields to historic lows may have already achieved the central bank’s goal of reducing long-term borrowing costs.