Futures steady after Dow's 300-point drop on rising Treasury yields
The Dow fell more than 300 points on Monday; investors await consumer confidence data and job openings figures due Tuesday
Citi Research has turned bullish on China's 30-year government bonds, projecting that yields will fall further even as US Treasury yields climb. Analysts at the bank recommended investors go long on China's 30-year sovereign debt, expecting the yield to fall towards 1.8 per cent while the 10-year yield could edge towards 1.6 per cent.
The outlook is attributed to easing supply pressures and improved market dynamics for China's ultra-long government bonds heading into the fourth quarter, with China's recently announced 360-billion-yuan recapitalisation plan for major financial institutions potentially boosting duration demand.
Brief written by urgent.news from South China Morning Post's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
This story
This is one outlet's version. Read the fullest account.
