---
title: "Global Bonds Face \"Sell-Off Wave,\" Chinese Bonds Highlight Safe-Haven Properties"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/280221407.md"
description: "Global bond markets are experiencing sharp fluctuations due to Middle East geopolitical conflicts, with the U.S., Australian, and New Zealand treasury yields reaching new highs and facing sell-offs. In contrast, Chinese treasury yields have shown less volatility, highlighting their safe-haven attribute. On March 23, China's 10-year treasury yield was around 1.84%, a slight increase from 1.80% at the end of February. Bloomberg data indicates that globally, only a few government bonds have achieved positive returns this year, including those from China and Malaysia"
datetime: "2026-03-23T22:24:07.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/280221407.md)
  - [en](https://longbridge.com/en/news/280221407.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/280221407.md)
---

# Global Bonds Face "Sell-Off Wave," Chinese Bonds Highlight Safe-Haven Properties

Middle East geopolitical conflicts continue, pushing the global bond market into the "eye of the storm." The yield on 10-year U.S. Treasury Notes has risen to an almost 8-month high, the yield on 10-year Australian Treasury Notes has climbed to its highest level since 2011, and New Zealand government bond yields have touched a new high since May 2024... In recent days, global bond markets have experienced violent fluctuations, with government bonds in multiple countries facing fierce sell-offs. In contrast, Chinese government bond yields have shown mild volatility, further highlighting their safe-haven attribute. On March 23, the yield on 10-year Chinese Treasury Notes was running around 1.84%, only a slight increase from the level of about 1.80% at the end of February, maintaining low volatility overall. Bloomberg data as of March 13 shows that since the beginning of the year, only a few government bonds globally have achieved positive total returns, including those from China and Malaysia. (Shanghai Securities News)

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