China Markets

Chinese treasury futures surge as new virus spreads

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Key Points
  • Chinese government bond futures surged on Thursday as investors' worries heightened over the spread of a new flu-like virus that has forced China to lock down a city of 11 million people.
  • Yields on China's 10-year government bonds fell below 3%.
  • China is putting a transport lockdown on the city of Wuhan, which is considered the epicenter of the new coronavirus outbreak that has killed 17 and infected nearly 600 people.
Chinese police and travelers wear protective masks at Hongqiao high-speed railway station before Chinese New Year in Shanghai, China, on Wednesday, Jan. 22, 2020.
Qilai Shen | Bloomberg | Getty Images

Chinese government bond futures surged on Thursday as investors' worries heightened over the spread of a new flu-like virus that has forced China to lock down a city of 11 million people.

Chinese 10-year treasury futures for March delivery, the most traded contract, rose 0.42% in afternoon trade to 99.57.

Yields on China's 10-year government bonds fell below 3%.

China is putting a transport lockdown on the city of Wuhan, which is considered the epicenter of the new coronavirus outbreak that has killed 17 and infected nearly 600 people, as health authorities around the world work to prevent a global pandemic.