According to our readers, “dim sum bonds” is the best way to refer to the product of Hong Kong’s burgeoning renminbi bond market.
Some market participants are using the nickname already, but it has clearly not made much of an impression – a Google search for the term returns our web poll as the top result. We are happy to be pioneering it.
Readers rejected the idea that we needed a better name, even against some tough competition. Japan’s samurai bonds are warriors, Britain’s bulldog bonds are cage fighters and even Australia’s kangaroo bonds can get a bit punchy. Dim sum might not be as imposing as those bullying emblems, but Hong Kong’s steamed morsels are at least delicious.
Few other names come to mind anyway. Hong Kong can’t lay claim to many exciting animals or ancient fighting clans. There are the city’s gangs, of course, but few public companies would be happy to be issuing triad bonds. There is history to draw on, perhaps. Taipan bonds? Or a more current association, SARs bonds?
No thanks, said our readers. In total, 47% voted for “dim sum bonds”, while 12% chose “CNH bonds”, 9% RMB eurobonds and 32% said we needed a better name.