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China Wanda bonds halve in value since January, "Its really bad, moving in one direction"
The Wall Street Journal with the report on Chinese shopping-mall operator Wanda Properties and the slashing of their junk bonds:In January, Wanda Properties sold a $400 million bond, then another a month later, raising hopes of a junk-bond revival. Now, Wanda has been downgraded, its bonds have lost half their value and no other Chinese company has sold a high-yield bond.In the piece a fixed income trader is quoted:“It’s really bad,”“Think back to the global financial crisis. That wasn’t as mess...
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Posted: Jun 9 2023, 03:18
Author Name: forexlive
Views: 102262