China's government bond futures down sharply after upbeat March loans data

SHANGHAI, April 15 () - Chinese 10-year Treasury futures for June delivery , the most-traded contract, fell as much as 0.68 percent in initial deals on Monday.

Market participants said the losses in treasury futures were driven by declines in government bonds following better-than-expected loans growth data released late Friday.

Chinese banks extended 1.69 trillion yuan ($252.09 billion) in net new yuan loans in March, up sharply from February and well above expectations, as policymakers push lenders to support struggling smaller companies and shore up a slowing economy.

($1 = 6.7039 Chinese yuan)

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