China Huarong’s Worsening Bond Rout Stokes Market Contagion

Growing panic over the financial health of one of China’s largest bad-debt managers spilled into the broader market, as traders circulated a Caixin report that openly considered the worst-case scenario for the company. China Huarong Asset Management Co.’s $300 million 3.375% bond due May 2022 tumbled 13.1 cents on the dollar to 76.1 cents, while… Continue reading China Huarong’s Worsening Bond Rout Stokes Market Contagion