China IMF victory to sap central bank appetite for Aussie debt
Appeal of such bonds is being eroded by a narrowing yield premium over the US
Taipei
CHINA is about to deal another blow to Australian bonds as the yuan's ascent into the International Monetary Fund's reserves diverts investments from Aussie-dollar assets.
The IMF signalled that it will include the yuan as the fifth currency in its Special Drawing Rights basket this month, a stamp of approval for China's progress in internationalising the currency.
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