CNBC reports that China’s bond market is the exception, as investors struggle in their hunt for yield, UBS Asset Management’s Hayden Briscoe said.

Major central banks around the world have taken drastic steps, like slashing or maintaining record low interest rates, to shore up financial markets reeling from the coronavirus pandemic.

The yield on the 10-year China government bond last stood at 2.913% as of Friday afternoon Singapore time.

“You’ve got one of the highest nominal yields in the world and ... very, very importantly for bond investors, you’ve got one of the highest real yields in the world,” Briscoe, head of fixed income for Asia Pacific at UBS, told CNBC’ on Friday.

Briscoe explained that a top concern for investors right now is offsetting risk assets. He asked, “With most bond markets close to zero or if not deeply negative in yields, where are you gonna go today?”

In comparison, the yield on the benchmark 10-year U.S. Treasury note stood at just 0.7019%. Over in Japan, the yield on the 10-year Japanese government bond was a dismal 0.011%, while the 10-year German bund yield sits in negative territory.

“The Chinese bond market, to us, looks like the standout bond market globally today,” Briscoe said.