Investors bet against Chinese debt market

$18bn renminbi debt sold in March

clock • 1 min read
Chinese central bank continues to take cautious stance on stimulus, despite severe Covid-19 outbreaks.
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Chinese central bank continues to take cautious stance on stimulus, despite severe Covid-19 outbreaks.

Foreign investors sold down $18bn in renminbi-denominated debt in March, as they bet against the region’s economic outlook in favour of attractive US yields, according to a Financial Times report.

Sales in the asset class climbed to Rmb113bn, or $17.6bn, over the month, bringing total outflows over the past two months to Rmb193bn. As central banks across the west began to raise interest rates,...

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