China's treasury futures see sell-off ahead of special treasury bonds, PBOC likely to cut RRR to avoid cash crunch

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Chinese government bond futures saw the biggest sell-off in more than three months on Tuesday, amid market concerns that the issuance of special treasury bonds on Thursday will cause a cash crunch.

The benchmark 10-year treasury futures for September delivery, the most traded contract, closed down 0.74 per cent. The daily trading limit for the 10-year contract is 2 per cent either side of the previous session’s closing price.

The selloff reflected mounting market concerns that the planned issuance of special treasury bonds on Thursday will cause a shortage of . . .

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