2026.04.3002:50:44UTC+00China 10Y Yield Steady After PMI Data

China’s 10-year government bond yield stabilized around 1.74% on Thursday, following two consecutive sessions of declines, as investors digested the latest PMI data. Official figures showed that the country’s manufacturing PMI edged down to 50.3 in April 2026 from 50.4 in March, slightly above market expectations of 50.1 and remaining in expansionary territory for the second straight month.

A private survey presented a more upbeat picture, with the manufacturing PMI rising to 52.2 from 50.8, exceeding forecasts of 51 and reaching its highest level since December 2020. The latest PMI readings pointed to resilience in China’s industrial sector, underpinned by strategic petroleum reserve management and sustained investment in renewable energy, even as the prolonged conflict in the Middle East continues to pose external risks.

Separately, US President Trump is scheduled to visit China from May 14 to 15. Reports indicate that the talks may place greater emphasis on the Taiwan issue, marking a shift from their previous meeting in South Korea, where it was largely downplayed.