Debt sales in dollars are running at their lowest in 11 years Bloomberg News China has surged ahead of the US for corporate bond deals in its yuan credit market in recent months, a rare shift that highlights the deepening impact of the two countries’ diverging monetary policies. Yuan-denominated bond issuance by non-financial firms exceeded that in the greenback in both July and August, a first for two consecutive months, according to Bloomberg-compiled data. The momentum has started building since the Federal Reserve kicked off its tightening cycle in March: Sales of yuan notes, almost entirely by Chinese firms, totaled 2.04 trillion yuan ($306 billion based on exchange rates at the time of deals) between April and August, versus $283 billion of dollar debt worldwide. The changing credit market landscape is mostly the result of a plunge in dollar debt sales after the US central bank embarked on a […]