Loading ...The Chinese bond rally cud be down to people just wanting to get yield and have the capital ‘safe’…their SM is lousy and not liable to recover much since Xi knocked the stuffing out…..I really think that Xi’s announcement that he is in for life and that the party will rule forever is a far bigger event than many realise….
Prior to that there was an understanding that the party would slide into the background, as society grew richer and the middle class expanded and that slowly they would become a ‘free’ society, like the west…the party was only hanging around, to ensure they did not descend into the chaos seen in Russia…..now after Xi …that all looks like lies….so either the party remains or it goes, but only after a civil war…..hence the need for Gold and Bonds…..