Today let's look at the China 10 year bonds future market.
As the most important market of controlling the inflation , those "jigou" ( securities company hedging manager in Chinese) are buying this market into Renminbi interests lower which is canceling the 13th. March hike. This has caused 3 months inflation lower in China till the June. ( maybe they're saving their ass from the buying failure in 2016)
There's a system bug between "zhengjianhui" ( China Securities Regulatory Commission in Chinese) and the PBOC as an administration absence in China 10 year bonds future market.
This market has no administration, crazy...
I here urge the China authorities assembling a super administration bank like the U.K or the USA as soon as possible. With a new rising cycle beginning those bugs could damage the safety of financial system in the future