Dim Sum / CNH Yield

CNH-denominated bonds, highest yield first.

The offshore renminbi bond market continues to present selective tactical opportunities for fixedincome investors seeking geographical diversification within Asian credit. Amid shifting monetary policy dynamics, offshore CNH debt offers an alternative yield curve segment for portfolios positioned to capture currencyhedged total return potential. In the current screening, the topranked financial sector issue highlights the relative value available in highgrade mainland names trading offshore. Specifically, ZHAPIE 2.45% maturing in April 2029 screens with a yield to worst of 1.968% at a price of 101.16, reflecting steady demand for quality Chinese corporate paper. Professional investors monitoring the Dim Sum space should evaluate these spreads against onshore renminbi yields and broader Asian USD benchmarks. Incorporating these specific maturities allows portfolio managers to optimize duration exposure while navigating the intersection of Chinese credit fundamentals and CNH liquidity conditions.