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10-year bond yield forecasts cut on policy speculation

Forecasts for China's 10-year bond yield are being cut by the most since May on speculation the central bank will loosen policy to arrest a slowdown in the economy. The median end-2014 projection fell to 4 percent in a Bloomberg survey of analysts conducted over the past week, from 4.2 percent in a similar poll a month ago. Three of the six participants in the latest survey reduced their estimates, with ING Group NV lowering its prediction to 3.8 percent from 4.1 percent. Gross domestic product increased 7.3 percent last quarter from a year earlier, the smallest gain since 2009.

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