The yield on China 10Y Bond Yield held steady at 1.83% on December 2, 2025. Over the past month, the yield has edged up by 0.07 points, though it remains 0.16 points lower than a year ago, according to over-the-counter interbank yield quotes for this government bond maturity. China 10-Year Government Bond Yield - values, historical data, forecasts and news - updated on December of 2025.

The global capital exchange ecosystem market, valued at $1.06 trillion in 2025, is projected to experience robust growth, driven by increasing global trade, the rise of fintech innovations, and a growing preference for digital trading platforms. The market's Compound Annual Growth Rate (CAGR) of 5.80% from 2025 to 2033 signifies a consistently expanding market opportunity. Key segments, including the primary and secondary markets, contribute significantly to this growth, with the primary market fueled by Initial Public Offerings (IPOs) and other new listings, while the secondary market thrives on the continuous trading of existing securities. The diverse range of stock and bond types (common, preferred, growth, value, defensive stocks; government, corporate, municipal, mortgage bonds) caters to a broad spectrum of investor profiles and risk appetites. Technological advancements, including high-frequency trading algorithms and improved data analytics, are further enhancing market efficiency and liquidity. However, regulatory hurdles, geopolitical uncertainties, and cybersecurity threats remain as potential restraints on market growth. The strong presence of established exchanges like the New York Stock Exchange (NYSE), NASDAQ, and the London Stock Exchange, alongside emerging players in Asia and other regions, contributes to the market's competitive landscape. Regional growth will likely be influenced by economic development, regulatory frameworks, and investor confidence, with North America and Asia Pacific anticipated to maintain leading positions. The future of the capital exchange ecosystem hinges on adaptation and innovation. The increasing integration of blockchain technology and decentralized finance (DeFi) is expected to reshape trading infrastructure and potentially challenge traditional exchange models. Increased regulatory scrutiny globally will likely necessitate further transparency and improved risk management practices by exchanges. Furthermore, the growing prominence of Environmental, Social, and Governance (ESG) investing will influence investment strategies and, consequently, trading activity across various asset classes. The market's future success will depend on its ability to effectively manage risks, embrace technological innovation, and meet the evolving needs of a diverse and increasingly sophisticated investor base. Continued growth is anticipated, driven by both established and emerging markets. Recent developments include: In December 2023, Defiance ETFs, introduced the Defiance Israel Bond ETF (NYSE Arca: CHAI) to facilitate investors' access to the Israeli bond market. CHAI commenced trading on the New York Stock Exchange. The ETF, CHAI, mirrors the MCM (Migdal Capital Markets) BlueStar Israel Bond Index, enabling investors to tap into both Israel government and corporate bonds. This index specifically monitors the performance of bonds, denominated in USD and shekels, issued by either the Israeli government or Israeli corporations., In January 2024, the National Stock Exchange (NSE) saw a 22% rise in its investor base, increasing from 70 million to 85.4 million during the calendar year 2023. This growth highlights the increasing participation of retail investors in the stock market.. Key drivers for this market are: Automating all processes, Regulatory Landscape. Potential restraints include: Automating all processes, Regulatory Landscape. Notable trends are: Increasing Stock Exchanges Index affecting Capital Market Exchange Ecosystem.

Inflation-Linked Bonds Market Outlook

According to our latest research, the global inflation-linked bonds market size reached USD 3.26 trillion in 2024, reflecting robust investor demand amidst ongoing economic volatility and persistent inflationary pressures. The market is expected to expand at a CAGR of 7.1% over the forecast period, with the total market value projected to reach USD 6.04 trillion by 2033. This growth is primarily driven by the increasing adoption of inflation-hedging strategies among institutional and retail investors, as well as rising government and corporate issuances in both developed and emerging economies.

One of the primary growth factors fueling the expansion of the inflation-linked bonds market is the heightened global inflationary environment witnessed over the past few years. As central banks across major economies grapple with persistent inflation, investors are actively seeking instruments that can safeguard their portfolios against the erosion of purchasing power. Inflation-linked bonds, which adjust principal and interest payments in line with inflation indices, have become a preferred choice for both risk-averse and yield-seeking investors. The increased issuance of Treasury Inflation-Protected Securities (TIPS) in the United States and similar products in Europe and Asia has further catalyzed market growth, with governments leveraging these instruments to attract a broader base of investors and manage fiscal risks more effectively.

Another significant driver is the evolving regulatory landscape and the growing sophistication of financial markets. Regulatory frameworks in regions like North America and Europe have encouraged pension funds, insurance companies, and other institutional investors to incorporate inflation-linked securities into their portfolios as part of prudent risk management practices. Additionally, the proliferation of digital trading platforms and online distribution channels has democratized access to these instruments for retail investors, expanding the investor base and boosting overall market liquidity. The integration of advanced analytics and portfolio management tools has also enabled investors to better assess risk-return profiles and optimize their exposure to inflation-linked assets.

Furthermore, the diversification of issuers beyond sovereign governments has played a pivotal role in shaping the inflation-linked bonds market. In recent years, there has been a noticeable uptick in corporate and supranational issuances, as organizations seek to align their debt structures with long-term inflation expectations and investor demand. This trend is particularly pronounced in sectors such as infrastructure, utilities, and financial services, where long-duration liabilities necessitate inflation protection. The expansion of the market’s issuer base not only enhances product diversity but also supports deeper secondary market activity and price discovery, contributing to the overall maturation and resilience of the inflation-linked bonds ecosystem.

Regionally, North America continues to dominate the global inflation-linked bonds market, accounting for the largest share in 2024, followed closely by Europe and Asia Pacific. The United States, with its highly liquid TIPS market, remains the epicenter of activity, while the United Kingdom and Eurozone countries have also witnessed increased issuance of index-linked gilts and bonds. In Asia Pacific, countries such as Japan and Australia are emerging as key growth markets, driven by rising inflation expectations and proactive policy measures. Meanwhile, Latin America and the Middle East & Africa are gradually expanding their presence, buoyed by macroeconomic reforms and efforts to develop local currency bond markets.

Type Analysis

The inflation-linked bonds market is segmented by type into Treasury Inflation-Protected Securities (TIPS), Index-Linked Gilts, Capital Indexed Bonds, and Others. TIPS, issued primarily by the US Treasury, represent the largest and most liquid segment of the market, offering investors a direct hedge against US inflation. The robust demand for TIPS is underpinned by the United States' status as a global economic powerhouse and the high degree of transparency and regulatory oversight in its financial markets. TIPS have become a staple in institutional portfolios, particularly among pension funds and insurance compani