TLDR: Foreign panda bond issuance tripled yr on yr in March 2026, reaching 27.8 billion yuan in one month alone. China’s 10-yr bond yield of 1.82% makes yuan borrowing roughly 60% more cost effective than identical U.S. dollar debt. The U.S. dollar’s portion of world reserves dropped to 56.32% in 2025…
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Panda Bonds Surge as Global Borrowers Ditch Greenback Debt for More inexpensive Yuan Financing in 2026
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