China’s Treasury Futures Close Higher

The broad but modest gains across tenors suggest a mild risk-on bid in duration, with longer maturities outperforming. This could reflect shifting expectations around monetary policy or liquidity conditions, though the move is too small to signal a decisive trend. For fixed-income traders, the key is whether this marks the start of a sustained rally or just a technical pause in a larger range. Watching the yield curve's steepness and any policy signals will determine if the bid has legs.