Market News
Foreign investors lured to high-yielding Chinese bank debt - REUTERS
SHANGHAI/SINGAPORE, March 17 (Reuters) - Foreign investors are rushing into Chinese interbank debt instruments as mainland yields rise, seeking to exploit the advantage of favourable currency conversion rates and the refuge offered by the market's low correlation with the rest the world.
U.S. dollar investors in particular are snapping up negotiable certificates of deposit (NCDs) -- popular short-term debt instruments issued between banks for their financing needs -- as the hedged return on these exceeds that on U.S. Treasuries.
