China’s 10-year government bond yield hovered around 1.835%, moving in a tight range as markets continued to monitor geopolitical and trade developments. Oil prices remained volatile as Iran intensified attacks on energy infrastructure in the Persian Gulf, though optimism over a potential reopening of the Strait of Hormuz supported sentiment. US Treasury Secretary Scott Bessent said Washington is allowing Iran to continue shipping crude through the route, while President Donald Trump seeks broader international support to secure commercial traffic. On the trade front, Trump asked Xi Jinping to delay their summit by about a month to focus on the Iran conflict. Bessent also said any postponement would be due to scheduling considerations rather than pressure on China over the vital shipping route. Meanwhile, China’s solid activity data for January–February showed resilience despite the deepening geopolitical tensions, with industrial output, retail sales, and fixed investment all rising.
