China Treasury Futures Close Mixed: 30-Year Flat, 10-Year Up 0.06%

The curve is doing the talking here: gains fade as maturity extends, leaving the 30-year flat while the front end leads. That pattern points to positioning at the short end rather than a broad repricing of long-term growth or inflation expectations. With no cash-market yields, volume or macro catalyst in the item, the read is limited. Whether the 30-year's stall reflects genuine long-end resistance or simple illiquidity is the open question worth watching.