Wall Street piles into Hong Kong’s dim sum bonds despite fading yuan funding edge: BofA

Hong Kong’s offshore yuan bond market is becoming an increasingly important funding source for global banks, with US lenders driving a surge in issuance even as the currency’s traditional funding advantage over the dollar narrows. The shift offers a glimpse of how financial ties between Wall Street and China are evolving despite geopolitical tensions. For US banks, the attraction increasingly lies in access to Chinese capital rather than lower borrowing costs. Offshore yuan-denominated bonds,...