Since then, the market mood has turned more cautious with Beijing notably silent on whether a deal had actually been agreed, or what it might contain.
Yields on three-year bonds got down as deep as 0.567% in the wake of the last policy easing, before the latest bout of trade optimism lifted them to 0.687%. At the start of this year, they had been up at 1.82%.
The three-year bond futures contract was trading 1 tick firmer on Tuesday at 99.325, while the 10-year contract added 2 ticks to 98.9750. Across the Tasman, the New Zealand dollar was a touch firmer at $0.6307, but again caged between support at $0.6277 and resistance around $0.6354.