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Corporates to stay away from dim sum market
August 17, 2012
Banks will continue to spearhead dim sum issuance for the rest of the year while corporates take a breather as yields continue to converge in the onshore and offshore renminbi markets.
Economic factors including investors’ aversion to high yield credit, a renminbi currency that has approached fair value, and the easing of bank lending in the mainland have caused global corporates to take a step back from the offshore renminbi, or...
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