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
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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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