Traders in China’s $21 Trillion Bond Market Turn to WeChat After Some Price Feeds Halted
- Regulator told brokers to stop data feeds, Reuters reports
- Data providers are an essential part of the bond market
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An abrupt suspension of widely used bond price feeds in China blindsided investors and sent volumes in some corners of the market tumbling, reviving concern about sudden regulatory shifts in a country that makes up a growing portion of global fixed-income portfolios.
Information providers that previously supplied aggregated bond quotes showed blank screens on Wednesday, prompting desperate traders to turn to chatrooms available on Tencent’s QQ and WeChat to share prices and do deals.