China 10-year yield jumps to highest since July 2015

The benchmark 10-year government bond yield in China rose to a 22-month high of 3.601 on Monday and looks set to extend the gains on the back of weak data and tighter monetary policy.

The PBOC drained CNY 10 billion on Monday, while the official data showed the imports and export growth slowed in slowed.

Bond yields may ease today if the PBOC decides to inject liquidity via OMOs.