Renminbi bond markets are converging

Offshore renminbi bond markets are increasingly converging with the onshore market, which will boost the currency's internationalisation, says Asifma.

Renminbi bond markets are converging

Differences between offshore and onshore renminbi bond markets are decreasing in terms of yield spreads and clearing infrastructure, according to the Asia Securities Industry Financial Markets Association Asifma.

At a seminar on Thursday, Asifma unveiling a white paper on the currency’s roadmap - said spreads between bond yields in offshore and onshore markets have narrowed.

The average coupon on offshore renminbi bonds has moved to 3.2% in 2014, an 80bp increase...

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