China’s Latest Bond Scare Casts Doubt on a $1.3 Trillion Market
(From Bloomberg)
The latest bond failure by a Chinese local government investment arm has rekindled concerns about a group of borrowers whose outlook is closely tied to Beijing’s shifting definition of its implicit backing.
The debt woes faced by Hohhot Economic & Technological Development Zone Investment Development Group, a local government financing vehicle from Inner Mongolia, have sent chills among investors holding other such LGFV bonds, driving prices sharply lower for some.
Reprinted from: https://www.ac2news.com/2019/12/chinas-latest-bond-scare-casts-doubt-on-a-1-3-trillion-market/
