Asia Pacific

Renminbi watchers are forecasting a doubling of the currency’s trading band and hoping this leads to greater secondary dim sum trading following positive comments from the PBoC.

Future Land Development turned to the offshore renminbi market for funding this week, managing to generate Rmb8bn ($1.28bn) of orders — as well as getting away with a yield that was well below where it could sell a dollar bond.

Investor appetite for yield and CNH exposure is at a high, helping to push the sizes of dim sum bonds past the standard Rmb1 billion mark. This creates new opportunities for issuers across the credit spectrum.

In this round up of recent offshore renminbi news, Paris seeks a swap line with China, deposits at Taiwanese banks jump and proposed changes to RQFII quotas.

Fund managers pared back their exposure to emerging market equities this month, with appetite for risk declining, a survey of fund managers shows

Münchener Hypothekenbank opened books on a £200m three year floating rate deal on Wednesday morning, becoming the latest borrower to take advantage of a starved sterling investor base.

The IMF's World Economic Outlook cut global growth projections slightly, but said the manufacturing and trade cycle has begun to reaccelerate

The rating agency cut China's credit rating outlook to stable from positive, affirming the government's bond rating of Aa3

The environment for equities in emerging markets is becoming more difficult but the developing world consumer remains a bright spot

Vietnam moved a step closer to issuing a bond this week by launching a non-deal international roadshow on April 15 with Deutsche Bank, HSBC and Standard Chartered. It begins in Singapore on Monday, before travelling to London and to three locations in the US, according to a dealer at one of the banks.