Xinhau Finance and Lehman Brothers have united to unveil the China Aggregate Index. Hua He, Lehman's head of Asia fixed income research, says this will be China's first comprehensive series of bond indices since it will include both local stock exchange bonds and inter-bank exchange bonds.
Local stock exchanges and the inter bank exchange have created their own indices, but we're the first to provide an aggregate index that includes both, he says.
The Xinhua Lehman bond index will include treasuries, agencies and corporate bonds. To be eligible for inclusion, securities will need to be Chinese Yuan denominated fixed-rate instruments with at least one year to maturity. The index will begin...
