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China's central bank suspended treasury bond purchases on Friday, briefly lifting yields. The move sparked speculation that Beijing is stepping up defence of the yuan, which has slid since Trump's election.
The PBOC cited a shortage of bonds as the reason for the halt.
Currency defence and monetary policy shifts influence Chinese purchasing power for imported feed ingredients, and a firmer yuan would modestly support Chinese demand for dollar-priced soybeans and meal.
reuters.comJan 10, 2025After 362 past bearish macro events, Chinese Yuan (CNY per USD) moved a median -0.1% over 5 sessions (42% higher; middle half -0.4% to +0.1%), and -0.2% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
