Global Debt Extends Best Run Since Pre-Covid on China, Fed Bets
- Asia high-grade dollar bond yield premiums tightened Monday
- Chinese property bonds gain further on reopening prospects
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Global credit extended its longest rally since before the pandemic on Monday as investors cheered further reopening moves from Covid restrictions in China and stuck with bets for the Federal Reserve to down-shift rate hikes this month.
Yield premiums on Asian high-grade dollar bonds tightened at least 1 basis point Monday, according to credit traders, on track for a seventh consecutive session of tightening that would be the longest such run since June.