rmb Archives - Z-Ben Advisors

(China Alert) RMB credit: Growing up quickly

– China’s fixed income market has grown 14.7% over the past six months – A larger number of defaults have not deterred new managers from entering the market – We are observing distinct yield categories forming in China Update: The first half of 2016 has seen significant changes. We all know that China’s fixed income […]

market access, rmb

-The US is set to become a major player in RMB internationalization -Recent major reforms were the result of outcomes from last year’s S&ED -US managers and securities firms should now expect greater access and ownership onshore Update: Outcomes from the US-China Strategic and Economic Dialogue (S&ED) were released last night. Key developments cover two […]

Fixed Income, rmb

China’s fixed income markets have recently garnered a lot of global attention, the vast majority of coverage casting a negative shadow over this untapped market. Many foreign investors may be considering sitting on the sidelines until concerns subside. Z-Ben Advisors has a broader perspective. The long-term prospects of China’s fixed income markets remain immensely attractive: […]

QFII, rmb, RQFII

-PBoC, SAFE and CSRC released details on changes to inbound access -Harmonization across QFII and RQFII is closer than ever -Flexibility will significantly impact competitive dynamics Update: China’s inbound investment programs are moving toward a shared open architecture. Over the weekend, PBoC, SAFE and CSRC held a joint training event to give foreign participants some […]

Major players are preparing to access RMB credit as SAFE starts to make clarifications Managers and service providers will all be actively looking to benefit Future inbound access reform could be built around these IBB changes Update: PBoC significantly liberalized access to the interbank bond (IBB) market two weeks ago and Z-Ben Advisors has already […]

rmb, SDR

·IMF SDR inclusion cements the RMB as a fixture in global markets ·First-movers will be best-positioned to capture structural change ·China’s reform agenda is becoming increasing irreversible Update: The IMF yesterday announced the RMB’s inclusion into the Special Drawing Rights (SDR) basket with a weighting of 10.9%. This move is of little surprise, understated magnitude […]

·We believe the outlook for the RMB’s inclusion into the IMF’s SDR basket is looking positive ·The RMB as a currency is becoming normalized ·RMB supply and demand remain at odds with each other Update: RMB internationalization is the foundation of the opening of China’s capital account. The currency’s imminent inclusion into the IMF’s Special […]

(China Alert) RMB credit: Growing up quickly

(China Alert) Here come the Americans

STRATEGIC OUTLOOK: RMB Fixed Income – Open for business

(China Alert) RMB access upgraded

(China Alert) RMB credit: Prototype for greater access

(China Alert) SDR inclusion: Real and exploitable implications

(China Alert) RMB Internalization: SDR inclusion is just the start