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Corporates to stay away from dim sum market
August 17, 2012
From Anita Davis
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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