China's debt is already increasingly popular with global investors, attracted by its yield and its relative insulation from movements in other bond markets.
"We know that the economy is primed to begin to really accelerate in the second quarter," Kelly said. "But we haven't seen that acceleration yet so that's what we're waiting for."
Brent crude futures rose 22 cents to $61.01 a barrel, after tumbling 5.9% and hitting a low of $60.50 on Tuesday. West Texas Intermediate (WTI) crude futures added 17 cents to $57.93, having lost 6.2% the previous day.
Oil futures extended declines, weighed down by rising US crude inventories and by expectations of weaker demand in Europe, where the coronavirus vaccine roll out is faltering.