On Friday at the close of trading in New York, the offshore RMB against the US dollar was quoted at 6.8160, up 69 points from Thursday's close in New York, with intraday trading ranging between 6.8102 and 6.8297.
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The average bond financing cost premium for US investment-grade technology company borrowers, compared to the overall US market, has reached its highest level since 2003. Analysts point out that as financing supply continues to expand, the spread on US technology bonds may widen further. US technology companies are seeking to diversify their massive funding needs through different currencies and markets. BNP Paribas expects the net supply of investment-grade corporate bonds in the Eurozone to increase by 83% by 2027.
