currency exchange Chinese fixed income is entering the mainstream of the investment world, propelled by capital inflows passing through China’s opening doors. Foreign institutions held a record RMB1.4 trillion of Chinese bonds at the end of September, with the amount of foreign holdings expanding for 19 months in a row. While catalysts such as compelling yields, improved access and the prospect of China’s inclusion in global bond indexes continue to fuel foreign interest, is the inflow into Chinese bonds sustainable or will the tides turn? The Taiwanese central bank says it is ready to intervene to protect the exchange rate of the “new Taiwan dollar” (TWD) against the US dollar. The Taiwanese currency dropped to a 28-month low against the US dollar in late May. Observers said it was dragged down by the US-China trade tensions and slower domestic economy growth. To calm the market, the central bank said last week on its official Facebook account that it would step in in case of a sudden sharp depreciation of the currency. 55581
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