(Bloomberg) As China’s domestic bonds head for imminent inclusion in a benchmark global index, one large U.S. fund manager is taking a cautious approach. “My guess is that we will buy some once we get the settlement capabilities, but it’s not a high conviction sort of view,” said Brendan Murphy, who helps manage $37 billion at Mellon, a $482 billion asset manager based in Boston. The first step would be to buy “a small amount” of government bonds as the team gauges the market’s liquidity and trading conditions, he said in an interview in Sydney.
A Big U.S. Fund Is Ready to Nibble, Not Bite, on Chinese Bonds
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