China just saw a record bond sell-off. Now its main trading platform isn't publishing foreign debt trades, report says.
- China's main bond trading platform for foreign investors stopped publishing data on May 11, Bloomberg reports.
- The move follows a recent sell-off in the Chinese debt
After record net sales of sovereign debt,
Turmoil across Chinese markets has escalated due to COVID-19 lockdowns, and the lack of data reporting raises questions about China's transparency into its
The China Foreign Exchange Trade System last provided trade data by overseas traders on May 11, people familiar with the matter told Bloomberg.
Those figures are typically published within one day, the sources said, and they aren't certain as to what the pause is exactly related to.
Foreign investors sold a record $18 billion in Chinese debt in March, the Financial Times reported, as Chinese
Meanwhile, BlackRock last week downgraded Chinese stocks to neutral, and the world's largest asset manager forecasted a "rapidly worsening" outlook for the country's economy. Risks are rising for China over its ties to Russia amid war in Ukraine, the firm said, and lockdowns threaten to slow growth.
Plus, the Chinese
"The zero-COVID strategy is obviously causing market concern," he said. "So I think that that's posing a bit of a short-term headwind for this sort of story about a rising renminbi."
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