Barrick Gold Corp (ABX)

[NYBob]

The $500 billion market the world never thought it would see
Submitted by cpowell on 01:43AM ET Monday, July 30, 2018.
Section: Daily Dispatches
By Chris Anstey and Narae Kim
Bloomberg News
Sunday, July 29, 2018

China used to rail against the outsize role of the U.S. dollar.
But in a major turnaround, the world's second-biggest economy has
started embracing the currency of its larger rival.

Chinese companies and banks -- and even the government -- sold bonds
denominated in dollars at a record pace last year, and underwriters
expect that growth to continue for years.
The roughly half-trillion-dollar market has two key attractions for
China's borrowers. For some, it's an easier place to raise cash than
at home -- where regulators are cracking down on leverage.
For others, dollars are simply easier to use to fund acquisitions
and investments abroad.

... Dispatch continues below ...

http://www.hardassetsalliance.com/go/v34pm4/GAT

The upshot: There's a large and growing supply of dollar securities
that offer exposure to Chinese companies for investors wary of
diving into the country's increasingly accessible yuan --
denominated domestic debt.
The offshore bond market is also set to provide a stake in
President Xi Jinping's "Belt and Road" initiative (BRI) --
a grand plan that envisions deepening trade and investment ties
with countries across the Eurasian landmass and beyond.
Bankers see the BRI as a key source of growth in Chinese dollar bonds. ...
... For the remainder of the report:

https://www.bloomberg.com/news/articles/2018-07-29/china-s-huge-u-s-curr...

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