the extra yield that chinese government bonds offer over us treasurys this week dropped below a percentage point for the first time in nearly three years as the central banks of the world’s two largest economies move in opposite directions the narrowing gap reflecting both a rally in chinese bonds and a us selloff reduces one longstanding argument in favor of foreign investors buying more chinese debt but analysts and investors say the longterm torrent of international money pouring into chinese fixedincome markets is likely to continue