Year Of The Snake: Lower For Longer Chinese Yields

2025-01-23 02:20:00 ET

Summary

• The Year of the Snake in 2025 brings the promise of wisdom, adaptability, and transformation. However, hopes of renewed economic vigor may continue to slip past China.
• Instead of optimism, disappointment has set in as the market grapples with the intervention’s smaller-than-expected scale, slower-than-anticipated pace, and lack of concrete follow-through on policy measures.
• The potential for an aggressive new US administration and looming trade war makes it even more imperative that China finds an antidote for its economic malaise.

By Tracy Chen, CFA, CAIA

The Year of the Snake in 2025 brings the promise of wisdom, adaptability, and transformation. However, hopes of renewed economic vigor may continue to slip past China. The policy pivot initiated in September 2024, while initially spurring a rally in the Chinese equity market, has gradually lost steam....

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