#China10YearYieldFallsBelow1.7% New low.
"*China 10Y yield < 1.7%*" — Chinese government bonds just broke another record. That’s the lowest in modern history.
This isn’t about bonds. It’s about what the market thinks of growth.
"*Growth concerns*" — why yields are collapsing:
1. *Deflation risk*: CPI near zero, PPI negative. Cash > spending
2. *Property drag*: Sector still deleveraging. Credit demand weak
3. *Policy lag*: Rate cuts and stimulus announced, but transmission is slow
Investors are piling into sovereign debt because they see few better options domestically.
"