bearish
Chinese Equity Markets: Wild Ride, But "Xi Briefing" Steals the Show
SUMMARY
- Sharp Bond Yield Drop: 10- and 30-year bond yields plunged to their base targets of 2.41% and 2.61%, falling by 3.2 and 5 basis points, respectively.
- These Base Targets were set in our previous Notes on China.
- Downside Trigger: The CSI 1000 and ChiNext indices fell sharply due to "Snowball Structures" exceeding their limits, typically triggered when the index drops 20% or more.
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