China 10-Year Government Bond Yield Falls to 1.595%, Lowest Since January 2025

The move matters less as a fresh record than as confirmation that the long end of China's curve keeps grinding lower, with the 30-year joining the 10-year at multi-month lows. Persistent downward pressure on sovereign yields typically signals soft growth expectations and strong demand for duration among domestic institutions, so the read-across for risk assets is about the growth backdrop rather than any single yield print. The open question is whether this decline steepens into a more disorderly rally that forces fresh official attention to the bond market.