Stephen Chiu, CFA
"CGB Net Outflows in 2023 Despite Overall Inflows
In the latest China bond holding monthly report, we have wrapped up 2023 and have reported that despite the overall China bond flows managed to turn the fortune and inked net inflows for the year, the China treasury bonds (CGBs) still registered net outflows for the second year running.
Looking ahead, for the CGB inflows to build and remain sustainable, China's continued opening-up measures like the latest announcement of Repo Connect yesterday etc. and the introduction of offshore CGB futures would help, but may also need a somewhat neutral Fed in the background.
For the Bloomberg Intelligence report out today, please click BIO Stephen Chiu for the research written together with Jason Lee: 'China Treasuries Might Prefer a Neutral Fed for 2024 Inflows' (terminal link: https://blinks.bloomberg.com/news/stories/S7SD4BT1UM0W )"
December CGB Inflows Unable to Turn 2023 Into Net Inflows
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