Foreign Holdings of Chinese Bonds Hit Record on Swap Tailwind [Yahoo! Finance]
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Source: Yahoo! Finance
(Bloomberg) -- Global investors boosted their holdings of Chinese bonds to a record last month, taking advantage of a market anomaly that allows a premium when swapping dollars into the yuan. Most Read from Bloomberg Flesh-Eating Bacteria That Can Kill in Two Days Spreads in Japan S&P 500 Hits 30th Record of 2024 as Megacaps Rally: Markets Wrap These Are the World's Most Expensive Cities for Expats in 2024 Hedge Funds' Secret Weapon to Fight the SEC Lives in Texas How the US Mopped Up a Third of Global Capital Flows Since Covid Foreign funds held 4.22 trillion yuan ($582 billion) of onshore yuan bonds in the interbank market at the end of May, according to data from the People's Bank of China. Most of the purchases were in short-term bank debt — a favored instrument for swap strategies — while government bonds saw year-to-date outflows, Bloomberg calculations show. Overseas funds have boosted their holdings of Chinese debt since late 2023, a marked shift from 2022 whe
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