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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
CHINA
- In the past few months, we have seen that the tougher regulations on the property imposed by Chinese government combined with the sharp decline in 'liquidity' have led to a surge in volatility in the HY credit market.
- Evegrande crisis (which is a Chinese real estate developer with 300bn USD in total liabilities) continues to intensifies, increasing the contagion risk to other major developers.
- For instance, Fantasia Holdings December 2021 bond is currently trading at 72 cents on the USD, down from nearly 100 in the end of July.
- This chart represents Chinese property developers' debt to mature; according to ANZ Research, there are 55bn USD of property developers' debt to mature next year, followed by 44bn USD in 2023.
- Uncertainty could continue to surge in the short to medium term as investors' concern about Chinese real estate market grows, which should lead to a rise in preference for safe asset (i.e. US Treasuries, USD).
Source: ANZ Research
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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