Goldman Sees More Chinese Bond Defaults
By Ye Xie, Bloomberg macro commentator President Donald Trump has continued bashing China. This time, his administration restricted travel visas for members of the Chinese Communist Party and banned cotton imports from a military-linked firm it accused of “slave labor.” So far, all of these moves, including the House bill that could lead to the delisting of…
Xi’s Forbearance Mode Ends With Rising SOE Defaults
By Ye Xie, macro commentator at Bloomberg Beijing is moving away from its implicit support for state-owned enterprises in the bond market. Yongcheng Coal & Electricity’s default this week sent a shock wave through the market, causing dollar bonds of several other Chinese state-owned enterprises to tumble. Over the past two months, three of the five…