Central Banks Are Doing the Best We Can Expect, Says Alliancebernstein's Zeng

The video discusses the rapid evolution of a public health crisis into a financial crisis, highlighting the limitations of central banks' monetary policies. It emphasizes the dollar shortage outside the US and its impact on financial markets, particularly in emerging markets. The video also analyzes credit spreads in Asia, noting the resilience of Chinese bonds, which are increasingly seen as a safe haven. The discussion concludes with the stability of the RMB and the PBOC's role in managing the situation.

What are the implications of the differences in the composition of Asian IG bonds compared to 2008?

How do the current market conditions affect the behavior of traditional safe haven assets?

What factors would contribute to Chinese bonds achieving a safe haven status?