Chinese government bond yields are 2.5-4.0bp higher across the curve, bear steepening.

• •The move looks to be driven by a commentary piece in the Securities Times.
• •The article suggested that China should increase long end bond issuance following the recent sharp fall in yields.
• •Long positioning in bonds will also be factoring into any moves higher in yields.
• •The wider market has broad expectations for deeper policy easing, allowing fresh multi-decade lows for 10-Year yields to be registered in recent sessions.