China Bond Bears Eye Niche Swap Trade as Rally Doubts GrowPosted by MarketsWireChinese investors are betting a months-long rally in two-year government bonds has gone too far, turning to arbitrage trades more commonly used in the US and Europe to put that view to work.1 repliestomspark wrote:Nah, the two-year rally looks overcooked to me too. China's been propping things up artificially and the swap trade is smart if you're positioning for the unwind.