China Bond Turmoil Halts as PBOC Soothes Nerves With Injections

China’s bond market moved on from the rough and tumble of recent days, with futures heading for the biggest two-day advance since May and yields declining for the second day in a row.

The turnaround -- which came just as suddenly as a four-day rout that drove the 10-year yield to a three-year high -- follows signs that the central bank is actively trying to calm nerves. The monetary authority’s open-market operations have injected 690 billion yuan ($104 billion) in the past three days, helping ease concerns in a week that has more than 1 trillion yuan of loans coming due.