China’s 10-Year Government Bond Yield Hits Record Low

China’s benchmark 10-year government bond yield fell to a record low of 1.565% on Friday as stock-market weakness drove demand for safer assets.

The yield on the most actively traded 10-year government bond fell below 1.60% on Wednesday and stayed below that level for the next two days. A mutual fund manager told Caixin that the decline breached a key threshold as a weak outlook for equities supported demand for bonds.