China Treasury bond futures hit by cash equity volatility
Increase in volatility as traders exit positions to fund equity portfolios
A combination of hedge funds and securities firms closing out positions to meet increased margin calls, and to release funds for cash equity investment, drove a spike in volume and volatility on the Chinese Treasury bond futures market last week.
Trading volumes on China's Treasury bond futures market rocketed from a daily average of 6,000–8,000 contracts traded to reach 17,987 on July 8, according to figures from the China Financial Futures Exchange (CFFEX).
Large trading volumes also drove up
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