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E-Minis Flat On The Day


S&P 500 e-minis ticked lower with BBG headlines pointing to a lack of coupon payment on a US$-denominated bond issued by China Evergrande, but have recovered from worst levels. A reminder that the coupon payment was due yesterday, but there is a 30-day grace period before a default is triggered. There are also reports/chatter of the company's electric vehicle arm failing to pay salaries to some of its employees, in addition to a failure when it came to the timely payment covering factory equipment.

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