journal11 - global investors' robust interest in...

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Daniel Yoon K21 Professor Reaves Intro to Business 12/2/10 China's Yuan Bonds Meet Strong Demand in Hong Kong URL:http://online.wsj.com/article/SB10001424052748704679204575646343139645702.html? mod=WSJ_Bonds_LEFTTopNews China's Ministry of Finance said Tuesday demand from financial firms for its second yuan bond issue in Hong Kong was strong, with the 5 billion yuan ($750 million) institutional portion about 10 times subscribed. The finance ministry's three-year benchmark tenor coupon was fixed at just 1.0%, lower than most recent yuan bond issues in Hong Kong, reflecting
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Unformatted text preview: global investors' robust interest in yuan-denominated assets, driven by expectations of a further appreciation in the Chinese currency and limited yuan-related investment options. The latest sovereign bond issue, which totals 8 billion yuan, is part of the ministry's plan to establish a benchmark yield curve for future yuan-denominated bond issues in the city and comes as Hong Kong's de facto central bank issued data affirming investors' appetite for yuan assets remain strong....
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