The cost of insuring China’s five-year government bonds against non-payment has risen seven basis points this year to 74 on April 8, according to data provider CMA, which is owned by McGraw-Hill Cos. and compiles prices quoted by dealers in the privately negotiated market. The credit-default swap touched 75 on April 1, the highest since October.
The yuan strengthened 0.01% to 6.2024 per dollar today, prices from the China Foreign Exchange Trade System show. That’s near the 6.1986 level reached on April 2, the strongest level since the government unified official and market exchange rates at the end of 1993.
China’s inflation eased more than forecast from a 10-month high as food-price gains ebbed, reducing pressure on policy makers to tighten credit as the economy recovers from a slowdown. The consumer price index rose 2.1% in March from a year earlier, the National Bureau of Statistics said today in Beijing. The median estimate in a Bloomberg survey was for a 2.5% gain.