UBS expects Chinese government bond (CGB) yields to remain range-bound following first-half outperformance. CGBs are viewed as a key diversification tool for global and Asian portfolios due to their low correlation with global rates.
Key Takeaways
- 1.CGB yields are expected to remain range-bound in the second half of the year.
- 2.Chinese government bonds provide useful diversification benefits due to low correlation with global rates.
Table of Contents
- Chinese government bonds
- Our view
- Neutral
- CIO Forecast
- CGB 10-year yield
- Required disclosures
- 3-year Issuer rating history change
- 12-month Bond ratings history change
- UBS CIO risk views
- UBS CIO valuation views
- Required Disclosures
- Analyst certification
- Company/Country Disclosures (19 June 2026)
- Producers, disseminators and their competent authorities
- Frequency of updates
- Statement of Risk
- Emerging Market Investments
- Risk Information
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Authors
Chun Lai WuAdela HuangKasey Wang
Securities
Chinese Government Bond 10-year
Themes
DiversificationPBoC Monetary Policy
Regions
Asia PacificChina