PBOC unexpectedly injects medium-term funding amid market jitters, 10-year treasury futures jump most in four months

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China’s central bank surprised markets on Monday with an injection of medium-term cash into the banking system, which traders and analysts viewed as a move to calm market sentiments rattled by a string of bond defaults by state-owned enterprise.

The People’s Bank of China (PBOC) injected 200 billion yuan ($30.4 billion) through one-year medium-term lending facility (MLF) loans to the banking system on Monday, it said in a statement. The rate on the loans was 2.95 per cent, unchanged from the previous MLF operation.

The central bank . . .

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