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PBOC-Owned China Bonds See Trading Surge in Sign of Intervention
Traders are seeing a surge in trading of some Chinese special government bonds mostly owned by the central bank, a sign that the authorities may have become more active in selling their debt holdings to cool a sizzling rally. More than 250 batches of the 10-year special sovereign notes changed hands by mid Tuesday afternoon, more than tripling the number of deals in the previous session and eight times the sum recorded for Friday, according to traders. The offering mostly came from big state lenders, three of them added. They asked not to be identified as the matter was private. China’s rates traders have been on ... (full story)