“CNY denominated renminbi bond baskets are demanded by investors who are seeking an alternative to low yielding Western currencies [EUR, CHF, USD] and want to benefit from an interesting yield. Besides, CNY has the potential to become a leading global trading and investment currency which is also a goal of China’s government.”
—Eric Blattmann, head of public distribution for financial products at Bank Vontobel in Zurich, on the driver for increased issuance of structured products linked to renminbi bonds over the next 12 months.
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