China Convertible Bond Index Opens Up 0.01%; Shanlu Bond Leads Gainers

The headline index move is essentially noise, but the dispersion underneath it is not: a single bond gaining 8.75% while the next-best names sit under 1% points to name-specific activity rather than any broad shift in convertible sentiment. That gap matters for anyone reading the index as a signal, since the aggregate figure masks how concentrated the action is. Whether Shanlu's move reflects an idiosyncratic catalyst or simply thin liquidity is the open question worth watching.