澳元/人民币 (AUDCNY) 加自选

周二，中国10年期政府债券收益率小幅上涨至1.64%左右，但仍接近五周低点，因为投资者在即将召开的中国人民银行会议之前等待进一步的政策信号。央行最近通过反向回购注入了总计超过1.4万亿元的流动性，这是本月第二次此类操作，缓解了资金压力。这些措施表明，人们更倾向于有针对性的支持，而不是广泛的货币宽松政策，导致市场预计中国人民银行将维持一年期和五年期贷款最优惠利率，在持续的担忧中平衡经济稳定和可控的借贷成本。交易员们现在正在等待本周举行的陆家嘴论坛上中国官员的更多政策提示。与此同时，中东地缘政治紧张局势加剧，推高了油价，加剧了对通胀的担忧，并使收益率有所上升。然而，持续的贸易不确定性，包括模糊的美中贸易协议框架，限制了任何剧烈的行动。

China’s 10-year government bond yield edged higher to around 1.64% on Tuesday but remained near five-week lows as investors awaited further policy signals ahead of the upcoming PBOC meeting. The central bank’s recent liquidity injections totaling over 1.4 trillion yuan via reverse repos, marking the second such operation this month, have eased funding pressures. These measures signal a preference for targeted support over broad monetary easing, leading markets to expect the People’s Bank of China will maintain the one-year and five-year loan prime rates, balancing economic stability with manageable borrowing costs amid ongoing concerns. Traders now await more policy cues from Chinese officials at the Lujiazui Forum due this week. Meanwhile, rising geopolitical tensions in the Middle East have pushed oil prices higher, fueling inflation concerns and some upside on yields. However, ongoing trade uncertainties, including a vague US–China trade deal framework, have limited any sharp moves.