China's Bond Market Cracks: 2018 Will Be A Record Year For Onshore Bond Defaults

Zero Hedge -

Zero Hedge—Back in June, we asked if it was time to "start worrying about China's debt default avalanche" when we reported that according to research firm Rhodium Group LLC, there have already been least 14 corporate bond defaults in China in 2018, a shockingly high number for a country which until recently had never seen a single corporate bankruptcy, and a number which is set to increase as Chinese banks pull pull back from lending to other firms that use the funds to buy bonds, exacerbating the pressure...

Amid trade tensions and stock turmoil, China cracks open its bond market further to foreigners. In a step toward wooing more overseas investors, China's main publisher of bond market data and London-based IHS Markit announced Friday new indexes that claim to offer more transparency into the world's third-largest fixed income market.