China bond defaults looking less scary – why that won’t last
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The respite from defaults in China’s onshore bond market isn’t seen lasting as risks to the country’s economy grow.
While the number of defaults in China’s US$13 trillion bond market slid for a second straight quarter, down from a record high last year, June saw a resurgence as borrowing costs rose and liquidity tightened.
Analysts and investors expect debt failures to rise in the months ahead, in tandem with slowing economic growth.
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