Evergrande domestic debt deal calms immediate contagion concern
China Evergrande agreed to settle interest payments on a domestic bond on Wednesday, while the Chinese central bank injected cash into the banking system, temporarily soothing fears of imminent contagion from the debt-laden property developer.
China Evergrande agreed to settle interest payments on a domestic bond on Wednesday, while the Chinese central bank injected cash into the banking system, temporarily soothing fears of imminent contagion from the debt-laden property developer.
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https://www.morningstar.hk/hk/news/215418/whos-buying-evergrandes-bonds.... data and a blog post showed.Other bondholders include UBS Asset Management and Amundi, Europe`s largest asset manager.
Still, many market participants believe the fallout from Evergrande is likely to be contained.
"Despite the worry, so far this looks like a corporate bankruptcy and not something worse," said Brad McMillan, chief investment officer for Commonwealth Financial Network in a recent note. "It’s a big one, to be sure, but one that can be handled within the system."
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