January 3, 2023

Fixed Income Insights (China Edition) - January 2023

View the report
PDF - 543.2KB

Monthly report

Covid surge and low inflation leave the People's Bank of China room to ease further, if needed

  • Macroeconomic backdrop − G7 slowdown but US rebounds in Q4; sticky inflation is key for central banks
  • Chinese bonds − Government curve mostly bear flattened in Q4; green spreads widened
  • Chinese and Asian bonds − Great curve flattener and inversion continued in Asia; Chinese spreads remained volatile
  • Performance − Malaysian and Singaporean governments led 2022 gains in RMB; Bunds and JGBs lagged

This report provides actionable insights on currency-adjusted performance, macro drivers, shifts in yields, spreads and curves across conventional government and corporate bonds, for both renminbi and dollar-denominated issues.

For specialist content on a range of investment topics, including macroeconomic analysis and how it affects market performance and multi-asset analysis, viewed through our indices and data, explore our Global Investment Research hub.

Related reports

Subscribe to Market Maps reports

Get timely market analysis and commentary on what’s been happening across asset classes, regions, industries and styles.  You’ll receive your report(s) by email as soon as they are published.

Quarterly 

Monthly

By submitting this form, you agree to your personal data being shared within the London Stock Exchange Group of companies (LSEG) for the purpose of receiving communications via post, phone and electronic means from LSEG about event, resources, products, and/or services.

For more information on how LSEG uses your data, see our Privacy Statement. You can adjust your preferences at any time through the preference link in any electronic communication that you receive from us.