TREE NEWS reports: China’s treasury futures closed higher on the day, with the 30-year main contract up 0.31%. The 10-year and 5-year main contracts each gained 0.03%, while the 2-year main contract rose 0.01%. The across-the-curve advance was led by the longest-dated contract.
China Treasury Futures Close Higher, 30-Year Contract Up 0.31%
The curve's shape is the story here: gains thin out almost to nothing at the short end and concentrate at the 30-year, which is the opposite of a simple rate-cut bet and more consistent with duration demand or long-end positioning. For RWA and crypto markets, the read-through is indirect — this is a domestic rates signal, not a risk-appetite one, and it says nothing about digital-asset flows on its own. Whether the long end keeps outperforming the belly is the open question.
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