There’s a red menace in the government bond pits, and it’s creating havoc for traders.

On Friday, heavy selling occurred in December 10-year note futures starting in the morning. A futures trade sale of 15,000 notes seemed to tip off traders that it might be the Chinese government moving the paper.

The trade came soon after the Chinese central bank cut interest rates by 0.25 percent.

The moves Friday were similar to what had occurred two days before the September Federal Reserve meeting, when the Chinese fired a “shot across the bow” with a large-block sale to rattle the Fed’s nerves enough to delay a Fed tightening.

The Fed did indeed delay a tightening amid a frightening bond selloff on Sept. 15, as reported on Market News International.

“It’s the ideal situation: getting things done without causing any disturbance in the market,” said an sovereign desk trader.