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Why PBoC is ignoring defaults by China's failing local SOEs

Why PBoC is ignoring defaults by China's failing local SOEs

(ATF) Some of China’s locally owned state-owned enterprises (SOEs) have defaulted recently, causing a sell-off in the Chinese fixed-income market. This means some more short-term upward pressure on Chinese yields, which have risen to 3.2% and 3.3% for 5-year and 10-year China Government Bonds (CGBs), respectively, from less than 2.0% …

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China bonds fall amid mounting default fears

China bonds fall amid mounting default fears

(ATF) The bonds of state-owned-enterprises fell for a third day amid deepening concern that the companies will be unable to pay down their debts.The declines dragged down the benchmark ATF China Bond for the first time in almost three weeks, with the risk-off contagion spreading to the notes of private …

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SOE defaults stop record China bond rally in its tracks

SOE defaults stop record China bond rally in its tracks

(ATF) A record rally in high-yield China bonds ground to a crushing halt Tuesday as a report that issuers were cancelling sales amid a spate of payment defaults sparked a selloff.The benchmark ATF China Bond 50 Index was unchanged after 17 days of gains, the longest winning streak in index …

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