China and Europe’s economic insecurity suggest the glory days for the convergence trade are over

Published: 11/02/2019
China and Europe’s economic insecurity suggest the glory days for the convergence trade are over
Source: WWW.SCMP.COM

Are the glory days over for the China convergence trade? The world is in turmoil, investor perceptions are in disarray and cosy notions about Chinese interest rate and bond yield convergence to the United States are open to question. Chinese yield spreads over the US are so wafer thin, further narrowing may be pushing the boundaries of risk-reward credibility. China’s government bonds may be

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