CX Daily: China’s Ultra-Long Bonds May Test PBOC’s Monetary Toolkit

Bonds /

In Depth: China’s ultra-long bonds may test PBOC’s monetary toolkit

After China’s Ministry of Finance kicked off this year’s 1 trillion yuan ($138 billion) program of ultra-long special treasury bond sales in May, attention has shifted to how the central bank might deal with any subsequent volatility in the country’s capital markets and the potential impact on liquidity.