So they've got a lot of-- Will Goetzmann and Geert Rouwenhorst are collectors of old bonds and they've got lots of bonds with their coupons still attached.
With lower portfolio risk, local investors would also theoretically be able to pay more for Chinese companies, says William Goetzmann, a professor at Yale University who has published a rare paper on the pre-war ties between China's financial markets and the rest of the world.