📝 China 10-Year Yield Expected to Decline to 2.7%-2.6%: BNP Paribas

China's 10-year yield is likely to fall to 2.7%-2.6% in the next one to three months. Despite the foreign outflows from the local market, the key drivers are the domestic investors, which own 90% of the government bonds. The RRR cut from the PBoC announced on Friday means China holds a cautious stance given that the rest of the world is hiking rates. - Head of EM FI at BNP Paribas