U.S. Markets closed

PBOC's New LPR Provides Mechanism for More Efficient Rate Move: Fidelity

Aug.19 -- Bryan Collins, fixed income portfolio manager at Fidelity International, talks about China's decision to make borrowing costs slightly cheaper, and the bond market. Chinese officials introduced a revamped market benchmark rate for the first time. The new one-year reference rate for bank loans will start at 4.25%, according to a statement from the central bank. Collins speaks with Yvonne Man, David Ingles and Rishaad Salamat on "Bloomberg Markets: Asia."