Industry

Governments and sovereign funds shift to non-dollar bond markets amid rising dollar debt costs
Industry

Governments and sovereign funds shift to non-dollar bond markets amid rising dollar debt costs

At the IMF–World Bank meeting in Bangkok, Citi’s public sector head Stephanie von Friedeburg said governments and sovereign wealth funds are increasingly turning to bond markets denominated in currencies other than the US dollar — notably the Chinese yuan, Australian dollar, Hong Kong dollar and Singapore dollar — as competition for capital drives up the cost of dollar borrowing.

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