Vehicle crash

Investors in Chinese bonds should prepare for a nasty surprise in 2018. Beijing’s tolerance for off-balance sheet municipal borrowing has faded as debt levels have exploded. In the name of repricing risk, regulators will allow the once-unthinkable: a big default by a local government financing vehicle. LGFVs became popular in China during the global financial crisis. The … http://reut.rs/2DmSJpA

Leave a comment

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

This site uses Akismet to reduce spam. Learn how your comment data is processed.