A record-breaking crash in Chinese bond yields has economists worried that a deflationary spiral may engulf Australia’s key commodities export market and extend a horror run of price falls for mining companies.
The benchmark Chinese government 10-year bond yield hit a record low of 2.10 per cent this week before recovering slightly to 2.19 per cent on Wednesday, with yields on longer-term 30-year government bonds falling to record lows of 2.33 per cent.
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Tom Richardson writes and comments on markets including equities, debt, crypto, software, banking, payments, and regulation. He worked in asset management at Bank of New York Mellon and is a member of the CFA Society of the UK as a holder of the Investment Management Certificate. Connect with Tom on Twitter. Email Tom at tom.richardson@afr.com
