China Treasury Futures Close Mixed; 30-Year Contract Up 0.19%

The curve's shape is the story here: gains concentrated at the long end while the front contracts barely moved suggests duration demand rather than a broad rates repricing. For anyone watching China's government bond market as a read on growth and policy expectations, the long bond's bid carries more signal than the headline move itself. Whether that long-end preference persists across sessions, or proves to be a single-session tilt, is the open question.