Investors bet against Chinese debt market

$18bn renminbi debt sold in March

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,...