6 hours ago
Weakening yuan vs USD stalls Chinese bond FDI
International ownership of Chinese bonds declined slightly in March to the equivalent of $313 billion. This was the first large drop in foreign investors' positions since February 2019 coming at a time when the yuan weakened more than 1% against the dollar. This spread has narrowed to about 1.6 percentage points, after topping 2.2 percentage points throughout the second half of last year, data from FactSet and brokerage Tullett Prebon shows.