China Will Halt Libor-Pegged Products Starting July 3
Portfolio Pulse from Charles Gross
China will stop offering products pegged to the London Interbank Offered Rate (Libor) starting July 3, according to a Reuters report citing a foreign exchange trading platform.
June 30, 2023 | 11:28 am
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NEGATIVE IMPACT
The halt of Libor-pegged products in China may impact the iShares China Large-Cap ETF (FXI), which tracks the performance of the largest companies in the Chinese equity market.
The halt of Libor-pegged products in China could lead to a shift in the financial market, potentially affecting the performance of large-cap Chinese companies. As FXI tracks these companies, it could be negatively impacted.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70