America beware, investors now have a new manipulated government bond market to invest in.
Just as The World Bank warns against taking the dollar’s reserve status for granted, China began its planned sale of new yuan-denominated government bonds on Monday.
The $879 million Hong Kong issue is a small start towards what undoubtedly will be a growing, long-term trend for this new market.
International investors now have limited access to these unsecured sovereign securities “backed by the full faith and credit of the Central People’s Government of the People’s Republic of China.”
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